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प्रश्न
Distinguish between Proprietorship and Joint Hindu Family Firm
अंतर स्पष्ट करें
उत्तर
|
Sr. No. |
Basis of Difference |
Proprietorship |
Joint Hindu Family Firm |
|
1.
|
Meaning |
It is a form of commercial organization which is owned and managed by a single person. |
It is a form of commercial organization. The ancestral (family) business is conducted by the family members of Joint Hindu Family. |
|
2. |
Membership |
There cannot be more than one owner. |
There is no maximum limit on membership. |
|
3. |
Ownership |
The business assets and properties are owned by the proprietors. |
All the family members are joint owners of business properties. |
|
4. |
Liability |
The liability of sole trader is unlimited. |
Karta’s liability is unlimited. Co-parcener’s liability is limited. |
|
5. |
Financial Resources |
The financial resources are available. |
The funds are more than that of a proprietor. |
|
6. |
Stability |
It lacks stability since the existence of sole trading concern depends upon the survival of the sole trader. |
It is comparatively more stable since after the death of Karta, the next senior family member takes over Karta’s passion and run the business. |
|
7. |
Profit& Loss |
All the profit of the concerned belong to the sole trader and all losses are to be borne by him. |
The profit and losses are shared by all the co-parceners |
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Concept of Sole Proprietorship Or Sole Trader
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
APPEARS IN
संबंधित प्रश्न
‘One man show’ type of business organization.
Define Sole Trading Concern ?
A sole trading concern ensures ______________ business secrecy.
Sole Trading Concern and Partnership Firm
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 | ||
Sole Trading Concern and Partnership
Write a word or a phrase or a term which can substitute the following.
The owner is the sole manager and decision maker of his business.
Write a word or a phrase or a term which can substitute the following.
An artificial person created by law.
Distinguish between the following.
Sole Trading concern and partnership firm.
Write short notes on the following.
Features of a proprietorship
State Whether the Following Statement Is True Or False (Give Reason).
A sole trader can take prompt decisions and quick actions.
State Whether the Following Statement Are True Or False (Give Reason)
Business secrecy cannot be maintained in a Sole Trading Concern.
State Whether the Following Statement Are True Or False (Give Reason)
The liability of a sole trader is unlimited.
State Whether the Following Statement Are True Or False (Give Reason)
Sole Trading Concern is convenient and suitable when the market of goods is local.
What do you understand by a sole proprietorship firm?
The Karta in Joint Hindu family business has
The Head of the joint Hindu family business is called
