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प्रश्न
Distinguish between the following:
Sole Trading concern and Partnership Firm.
उत्तर
| Sole trading concern |
Partnership firms: |
|
A sole trading concern is a form of business organisation Which is owned, managed and controlled by one individual called ‘sole trader. |
A partnership firm is a form of business organisation owned and managed by two or more persons. |
|
Sole trading concern can be formed at any time. Its formation is easy and quick. |
Partnership firm can be formed by an agreement between 2 or more competent persons. It’s formation is comparatively difficult. |
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A sole trading concern is owned, managed and controlled by a single person, i.e. the proprietor, himself. |
Partnership firm is owned by partners jointly. The minimum number of members required is 2, while the maximum number is 50 for general business. |
|
Registration is not necessary. |
Partnership firm can be registered under the Indian Partnership Act, 1932. However, registration is compulsory in Maharashtra. |
|
In sole trading concern, maximum business secrecy can be |
The business secret is known to and shared by all the partners. |
|
In sole trading concern, only one person, i.e. sole trader contributes his own skills. |
In a partnership firm, diverse talents, skills and business contacts of all partners are pooled together. Therefore, benefits of principle of division of labor and expertise can be well obtained. |
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संबंधित प्रश्न
Distinguish between the following:
Partnership Firm and Joint Stock Company.
Justify the following statement.
Registration of the Joint Stock Company is compulsory.
Justify the following statement.
A Joint Stock Company is an artificial person.
Justify the following statement.
The liability of a shareholder of company is limited.
Justify the following statement.
The ownership and management are separated in Joint Stock Company.
Justify the following statement.
The Joint Stock Company collects huge capital from the public.
Justify the following statement.
There is more Government control and supervision over the working of Joint Stock Company.
State True or False:
There is a separation of ownership & management in the Joint Stock Company.
State True or False:
Board of Directors manages the business of Joint Stock Company.
Complete the sentence.
The rule for voting in Joint stock company is __________.
Answer in one sentence.
What is the meaning of Joint Stock Company?
Correct the underlined word and rewrite the following sentence.
Registration of Joint Stock Company is not compulsory.
Explain the following term/concept:
Joint Stock Company.
Justify the following statement.
A Joint Stock Company can raise huge capital.
Justify the following statement.
There is separation of ownership and management in Joint Stock Company.
Attempt the following:
Explain the five features of Joint Stock Company.
Why is a private company more desirable than a public company? Give any two reasons.
