Advertisements
Advertisements
प्रश्न
Sole Trading Concern and Partnership
उत्तर
| Basis of Difference | Sole Trading Concern | Partnership Firm |
| Formation | It is formed at the will of the owner | It is formed with a mutual agreement among the partners. |
| Management and control | It is managed and controlled solely by the owner. | The management and control of the ownership are shared by the partners. |
| Sharing of profits and losses | Profits and losses belong to owner. | Profits and losses are shared among the partners in the pre-decided. |
| Number of members | Only one member (owner) runs it | In case of banking business, the maximum number of members is 10 while for others it is 20. |
| Governance | There is no regulating act to govern it. | It is governed by the Indian Partnership Act |
| Decision making | Decision making is rapid, as all the decisions are taken by the sole proprietor. | Decision making is delayed as it requires the consent of all the members. |
shaalaa.com
Concept of Sole Proprietorship Or Sole Trader
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
APPEARS IN
संबंधित प्रश्न
Features of sole trading concern.
Sole Trading Concern and Partnership Firm
Functions of Lower Level Management.
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship is the ________ form of organization.
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 short note on the following.
Features of partnership firm.
State Whether the Following Statement Are True Or False (Give Reason)
A sole trader has weak bargaining power.
State Whether the Following Statement Are True Or False (Give Reason)
Business secrecy cannot be maintained in a Sole Trading Concern.
What do you understand by a sole proprietorship firm?
The structure in which there is a separation of ownership and management is called
The Karta in Joint Hindu family business has
In a cooperative society, the principle followed is
The capital of a company is divided into a number of parts each one of which is called
Provision of residential accommodation to the members at reasonable rate is the objective of
Define sole proprietorship.
