Business studies Chapter 1 - Forms Of Business Organisations
Difference between:
Write short notes on the following.
Features of a proprietorship
Merits of a proprietorship
Features of partnership firm.
Type of partners
Merits of a partnership firm
Type of partnership firm.
Features of Joint Hindu family.
Merits of Joint Hindu family
Features of Joint Stock company.
Merits of Joint stock company.
Features of Co-operative society.
Merits of Co-operative society.
Demerits of Co-operative society.
State with reasons whether the following statements are true or false.
1. There is no limit for membership in Joint Hindu family Business.
2. The liability of a Karta in a Joint Hindu family firm is limited.
3. The maximum number of members in a Joint Hindu family is 20.
4. Company form of organization has developed before the industrial revolution.
5. A joint stock company can raise huge capital.
6. Shareholders can manage the business.
7. The ownership and management are not separate in Joint stock company.
8. The main purpose of a co-operative organization is to earn profit.
9. The membership of a co-operative society is voluntary.
10. Co-operative society differs from other forms of commercial organizations.
11. Maximization of profit is the main motto of co-operative society.
12. In partnership agreement may be oral or written.
13. In a partnership the liability of every partner of a firm is unlimited.
14. The owner of a sole proprietorship is the sole decision maker of his business.
15. Sole Proprietorship is useful for small business.
16. A sole trading concern is easiest to form.
Write short answer of the following.
Long answer type question.
