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प्रश्न
Distinguish between the following.
Sole Trading concern and partnership firm.
उत्तर
| Basis of Difference |
Sole Trading Concern | Partnership Firm |
| Formation | Formed at the will of the owner. |
Formed with a mutual agreement (oral or written) among the partners. |
| Management and control |
Managed and controlled solely by the owner. |
Management and control of ownership are shared by the partners. |
| Sharing of profits and losses |
Profits and losses belong to the owner. |
Profits and losses are shared among the partners in a predecided ratio. |
| Number of members | Only one member (owner) runs it. |
Minimum-2, Maximum (in case of a banking business)- 10, Maximum (in case of ordinary business)- 20. |
| Governance | There is no regulating act to govern it. |
It is governed by the Indian Partnership Act 1932. |
| Decision making | Decision making is rapid, as all the decisions are taken by the sole proprietor. |
Decision making is relatively delayed, as it requires the consent of all partners. |
APPEARS IN
संबंधित प्रश्न
| Group'A' | Group 'B' | ||
| a | Sole trader | 1 | Insurable interest |
| b | Life insurance | 2 | Branch of Social Science |
| c | Business ethics | 3 | Local market |
| d | Henry Fayol | 4 | Father of scientific management |
| e |
Planning |
5 | Principle of indemnity |
| 6 | Father of modern management | ||
| 7 | Primary function of management | ||
| 8 | To earn profit | ||
| 9 | Last function of management | ||
| 10 | National market |
Distinguish between Proprietorship and Joint Hindu Family Firm
Define Sole Trading Concern ?
Sole trading concern and Partnership firm .
A sole trading concern ensures ______________ business secrecy.
Match the pairs :
|
Group 'A' |
Group 'B' |
||
| (a) | Sole trader | (1) | Compensation upto Rs 20 lacs |
| (b) | Globalisation | (2) | Minimum two members |
| (c) | District Forum | (3) | Dr. Deming |
| (d) | Private company | (4) | Regional market |
| (e) | Total Quality Management | (5) | F. W. Taylor |
| (6) | Minimum seven members | ||
| (7) | Maximum secrecy | ||
| (8) | Compensation more than Rs 20 lacs | ||
| (9) | International market | ||
| (10) | Minimum secrecy | ||
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
Match the correct pairs.
Write short note on the following.
Features of partnership firm.
What do you understand by a sole proprietorship firm?
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Why?
The capital of a company is divided into a number of parts each one of which is called
The Head of the joint Hindu family business is called
A partner whose association with the firm is unknown to the general public is called
Define the following business entities:
Sole Proprietorship
