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Forms Of Business Organization
Question
Give the meaning of a sole proprietorship organization.
Solution
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.'.
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.'.
Some More Questions From Forms of Business Organization Chapter
Define partnership deed.
What do you understand by co-operative society?
Define company.
What do you understand by a Private Company?
What do you understand by a Public Company?
Under what circumstances, is a partnership form of business organisation suitable ?
Write a short note on 'implied agency', one of the important characteristics of partnership and also true test of partnership.
Would you say that the sole proprietorship involves a lengthy and expensive procedure for its registration?
Explain whether the liability of a sole proprietorship is limited to the extent of his share in business.
Only the Karta has unlimited liability in HUF. Explain.
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Mock Test Series
Mock Test Series