1.What is a Sole Proprietorship?
(a) Business owned by president
(b) Business owned by several companies
(c) Business owned by one person
(d) Business owned by a company
Answer
Answer: (c)
2. Which of the following is owned by a Single person
(a) Private Company
(b) Public Company
(c) Joint Hindu Family
(d) Sole proprietorship
Answer
Answer: (d)
3. Sole proprietorship business can be started by
(a) at least seven persons
(b) any one person
(c) at least two persons
(d) at least three persons
Answer
Answer: (b)
4. A sole proprietor has a limit in which of the following ability
(a) Managerial
(b) Owner
(c) Worker
(d) None of these
Answer
Answer: (a)
5. Sole Proprietorship is most suitable for
(a) Medium scale concerns
(b) Large scale concerns
(c) Small scale concerns
(d) None of the above
Answer
Answer: (c)
6. The life of sole proprietorship business is said to be
(a) Stable
(b) Very short life
(c) Unstable
(d) Long life
Answer
Answer: (c)
7. In which form of business there is no need to share profits.
(a) Company
(b) Sole proprietorship
(c) Partnership
(d) Joint Hindu family business
Answer
Answer: (b)
8. A Sole proprietor concern is free from regulation by.
(a) Indian Contract Act
(b) Government
(c) Private Indian
(d) Indian Law
Answer
Answer: (b)
9. The reason for the end of the sole proprietorship can be
(a) Insolvency
(b) Insanity
(c) Death
(d) All the above
Answer
Answer: (d)
10. Sole proprietorship business owner has
(a) Restricted Liability
(b) No Liability
(c) Unlimited Liability
(d) Limited Liability
Answer
Answer: (c)
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