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प्रश्न
Write short answer of the following.
State the features of Proprietorship.
उत्तर
The following are some of the important features of a proprietorship:
i. Easy formation and closure: A proprietorship requires no legal formalities for its formation and closure. Thus, it is easy to
start up a sole proprietorship business.
ii. Unlimited liability: A sole proprietor has unlimited liability. This implies that the personal assets of the proprietor can be used
if the business assets fail to pay off the debts.
iii. Secrecy: A sole proprietorship is not required to publish its accounts. This enables the proprietor to maintain complete
secrecy regarding the business.
iv. Suitability: A sole proprietorship model is suitable for businesses that require modest capital, personal attention and limited
managerial skills.
v. Single ownership: A sole proprietorship is owned by an individual. As the sole owner of the business, he/she is solely
responsible for all the decisions made and the consequences thereafter.
vi. Risk bearing: A sole proprietor is the sole bearer of all the risks associated with the business. He/she is also the single
recipient of all profits and losses earned by the business.
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संबंधित प्रश्न
Select the proper option from the options given below and rewrite the completed sentence.
Business organization which is controlled by Hindu succession Act is known as ________
Select the proper option from the options given below and rewrite the completed sentence.
From the point of continuity ________ business organizations is the most suitable.
Write a word or a phrase or a term which can substitute the following.
The commercial organization which has maximum secrecy.
Write a word or a phrase or a term which can substitute the following.
'One man show' type of business organization.
Write short note on the following.
Merits of Joint stock company.
Write short note on the following.
Demerits of Co-operative society
State with reasons whether the following statement true or false.
Company form of organization has developed before industrial revolution.
State with reasons whether the following statement true or false.
The main purpose of a co-operative organization is to earn profit.
State with reasons whether the following statement is true or false.
The owner of the sole proprietorship is the sole decision maker of his business.
Write short answer of the following.
State the demerits of proprietorship.
Write short answer of the following.
State the merits of partnership firm.
Long answer type question.
Define Co-operative society. Explain its features.
Long answer type question.
Define Joint Stock Company. Explain its merits and demerits.
Distinguish between: Partnership Firm and Joint-stock Company
Discuss the factors that determine the choice of form of organisation.
