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Question
Match the correct pairs.
Solution
| Group A | Group B | ||
| a) | Sole proprietorship | 7) | Maximum business secrecy |
| b) | Joint stock company | 8) | Common seal |
| c) | Partnership Act | 9) | 1932 |
| d) | Co-operative society | 5) | One member, one vote |
| e) | Joint Hindu family firms | 6) | Karta |
a. A sole trading concern ensures maximum business secrecy. All the information related to the business remains with the
owner and it is up to him whether he wants to share the information with others or not. So, others cannot take undue
advantage.
b. In 1956, the Indian Companies Act was enacted. It specifies the rules and regulations for companies.
c. The Indian Partnership Act was passed in 1932. As per the act, “partnership is the relation between the persons who have
agreed to share the profits of a business carried on by all or any of them acting for all”.
d. In a co-operative society, the principle of “one man, one vote” is followed. It means that one person can cast vote only once.
This gives equal voting rights to all members of a co-operative society.
e. The head of a joint Hindu family business is called the Karta. He is the eldest male member of a joint Hindu family. He
controls and manages the business and has unlimited liability.
APPEARS IN
RELATED QUESTIONS
| 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 |
Features of sole trading concern.
Distinguish between Proprietorship and Joint Hindu Family Firm
Define Sole Trading Concern ?
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.
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 Is True Or False (Give Reason).
A sole trader can take prompt decisions and quick actions.
State Whether the Following Statement Are True Or False (Give Reason)
A sole trader has weak bargaining power.
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Why?
The Karta in Joint Hindu family business has
In a cooperative society, the principle followed is
The Head of the joint Hindu family business is called
Provision of residential accommodation to the members at reasonable rate is the objective of
A partner whose association with the firm is unknown to the general public is called
