Which of the following form of business organization is least regulated?

Related Mcqs:

1. Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?

   A. Drawings
   B. Cash
   C. Business
   D. Stock

2. Mr. Y and Mr. Z are planning to share their capital to run a business. They are going to employ which of the following type of business?

   A. Sole-proprietorship
   B. Partnership
   C. Corporation
   D. None of the given options

3. Every business transaction affects at least ________ accounts?

   A. One
   B. Two
   C. Three
   D. Infinite

4. In which type of business, all owners share in gains and losses and all have unlimited liability for all business debts?

   A. Sole-proprietorship
   B. General Partnership
   C. Limited Partnerhsip
   D. Corporation

5. In which form of Business, owners have limited liability?

   A. sole proprietorship
   B. partnership
   C. joint stock company
   D. none of the above

6. Finance is vital for which of the following business activity (activities)?

   A. Marketing Research
   B. Product Pricing
   C. Design of marketing and distribution channels
   D. All of the given options

7. Which of the following specialised journals will record “goods returned by the BUSINESS “?

   A. Purchase journal
   B. Sales journal
   C. Purchases return journal
   D. Sales return journal

8. BUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?

   A. Cash receipts journal
   B. Cash payments journal
   C. Sales journal
   D. Purchase journal

9. Which of the following will not appear in Profit and Loss Account of a business?

   A. Drawings
   B. Bad debts
   C. Accrued expenses
   D. Reserve for discount on Sundry Creditors

10. Which of the following business terms is derived from the Latin word meaning “to role over”?

    A. company
    B. Corporation
    C. Conglomerate
    D. Bank

    Submitted by: Kashif khan