Select the correct answer from the options given below and rewrite the statements.

1) A sole proprietorship has ……………………. owner/owners.
a) one   b) two   c) five
Ans:-  a) one 

2) The head of Joint Hindu Family Business is called as …………………….. .
a) Proprietor  b) Director  c) Karta
Ans:- c) Karta

3) Indian Partnership Act was passed in the year …………………….. .
a) 1923  b) 1932   c) 1956
Ans:- b) 1932 

4) The members of Hindu Undivided Family Business are called …………………….. .
a) Karta   b) partners  c) co-parceners
Ans:- c) co-parceners

5) The liability of shareholders in the public limited joint stock company is ………………….. .
a) Limited   b) Unlimited   c) Collective
Ans:- a) Limited  

6) The minimum number of members required for a co-operative society is …………………… .
a) 10     b) 20    c) 50
Ans:- a) 10

7) The …………….. is / are elected representative of shareholders who manage affairs of
company.
a) Secretary    b) Directors   c) Auditors
Ans:- b) Directors 

8) State Bank of India is the example of ……………………. Company.
a) Chartered   b) Statutory    c) Foreign
Ans:- b) Statutory