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प्रश्न
Write short notes on the following.
Features of a proprietorship
टीपा लिहा
उत्तर
Features of a proprietorship:
i. Easy formation and closure: This form of organisation requires minimum legal formalities while forming and closing down
the business.
ii. Unlimited liability: A sole proprietor has unlimited liability; this implies that the personal assets of the proprietor can be
utilised in case the business assets fall short of debt obligations.
iii. Direct incentives: As the sole proprietor enjoys all the profits and bears all the risks and losses associated with the
business, he/she gets direct incentives while running the business.
iv. Single ownership: It is managed and controlled single-handedly by the proprietor only.
v. Secrecy of information: In a proprietorship firm, all the decisions are taken by the proprietor; therefore, he/she retains
maximum business-related secrecy.
vi. Minimum government regulations: As a sole proprietorship firm is not governed by any laws and acts, there is minimum
government interference in its operations.
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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.
Sole trading concern and Partnership firm .
A sole trading concern ensures ______________ business secrecy.
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
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
Match the correct pairs.
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.
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.
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 capital of a company is divided into a number of parts each one of which is called
The Head of the joint Hindu family business is called
Provision of residential accommodation to the members at reasonable rate is the objective of
