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Forms of Business Organization
Give the meaning of a sole proprietorship organization.
Sole proprietorship is the form of business which is owned, managed and controlled by an individual.
According to S. R. Davar, 'The sole trader is a person who carries on business of his own, that is, without the assistance of a partner. He brings in his own capital and uses all his labour.'.
What is the meaning of a Joint Hindu Family business.
It is a form of business, which is owned by the members of a Joint Hindu Family under the control of 'Karta'.
Can a minor become a member of Joint Hindu Family?
Yes. A minor can become the member of Joint Hindu Family Business.
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ImportantWhat is the meaning of Partnership organization?
A Partnership organization is one that is formed through an agreement between two or more partners, with an objective to achieve profitability of business carried on jointly by all or anyone of them acting for all.
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Mock Test Series
Mock Test Series