Business studies Chapter 1 - Forms Of Business Organisations

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.

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