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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. |
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Concept of Sole Proprietorship Or Sole Trader
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
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 |
‘One man show’ type of business organization.
Define Sole Trading Concern ?
‘One man show’ type of business organization.
Sole Trading Concern and Partnership Firm
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship is the ________ form of organization.
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
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.
Distinguish between the following.
Sole Trading concern and partnership firm.
Write short notes on the following.
Features of a proprietorship
Write short note on the following.
Features of partnership firm.
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.
What do you understand by a sole proprietorship firm?
In a cooperative society, the principle followed is
The board of directors of a joint-stock company is elected by
Profits do not have to be shared. This statement refers to
The Head of the joint Hindu family business is called
Define the following business entities:
Sole Proprietorship
