Business Studies

Essay Type Questions:
Discuss the comparative study of the forms of organisation.


SOLUTION

There are mainly 5 forms of business organisations. 

1. Sole proprietorship- The concern that is owned and managed by a single person is called sole proprietorship.  In this firm, a single person carries on all the business activities including finance and management.

2. Partnership - Partnership are the firms which are carried on by two or more people who mutually come to an agreement either verbal or written to carry out a business by contributing appropriate  capital and share profits in a prescribed ratio. 

3. Hindu undivided family- Hindu undivided family business is the business concerns ( small, medium or large scale) which are run my the members of a joint family. Usually the head of the family is also the head of the concern run by the family.

4. Cooperative society- Cooperative society is an autonomous group of persons or group of association who united voluntarily to meet their common economic, social, and cultural needs.

5. Joint-stock company - A joint-stock company is a business entity regarded as an artificial person where the funds for running the business is raised through issuing shares to public and the shares of the company's stock can be bought and sold by shareholders. 

View Full Answer

Its FREE, you're just one step away


Subjective Hard Published on 18th 08, 2020
Next Question
Questions 244531
Subjects 8
Chapters 125
Enrolled Students 145
Enroll Now For FREE

Realted Questions

Q1 Single Correct Medium
Which type of partner has a right of free access to all records, books and accounts of the business and also to examine and copy them?
  • A. Every partner
  • B. Sub-partner
  • C. Partner by holding out
  • D. Substituted partner

Asked in: Business Studies - Forms of Business Organisations


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
To form a partnership, the minimum capital contribution should be _______.
  • A. Rs. 1 Lakh
  • B. there is no minimum limit
  • C. Rs. 1 Crore
  • D. Rs. 5 Lakh

Asked in: Business Studies - Forms of Business Organisations


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Single Correct Medium
In which of the following case, the Court may, at the suit of a partner, dissolve a firm?
  • A. If a partner has become of unsound mind, the firm is dissolved on a petition made by any of the other partners or by the next friend of the insane partner
  • B. A partner becomes permanently incapable of performing his duties as a partner
  • C. If a partner is found guilty of conduct which is likely to affect the carrying on of business of the firm then application to Court shall be made by any partner who is not guilty of misconduct for dissolution of firm
  • D. All of the above

Asked in: Business Studies - Forms of Business Organisations


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 Single Correct Medium
At the time of dissolution of partnership the main account to be looked would be __________.
  • A. salary
  • B. revaluation
  • C. drawings
  • D. realization

Asked in: Business Studies - Forms of Business Organisations


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Single Correct Medium
Describe the cost unit applicable to the Bicycle industry _____________.
  • A. per part of bicycle
  • B. per bicycle
  • C. per tonne
  • D. per day

Asked in: Business Studies - Forms of Business Organisations


1 Verified Answer | Published on 18th 08, 2020

View Answer