Sole Proprietorship

Q.

What is meant by partner by estoppel?

Q.

For which of the following types of business do you think a sole proprietorship form of organisation would be more suitable and why?

(a) Grocery store

(b) Medical store

(c) Legal consultancy

(d) Craft centre

(e) Internet cafe

(f) Chartered accountancy firm

Q. is considered to be the simplest form of organisation.

1. Sole Proprietorship
2. Partnership
3. Company

Q.

If registration is optional, why do partnership firms willingly go through this legal formality and get themselves registered? Explain.

Q.

Discuss the various limitations of outsourcing?

Q.

What Are the 4 Types of Partnership?

Q.

What Are the Disadvantages of Partnership?

Q.

What are the three essential elements of a partnership?

Q. Being the owner of the business, I take all the risks and put all the money. I take all the profits. I am a.

1. sole proprietor
2. company
3. partnership

Q.

One man control is the best in the world if the man is capable enough to manage everything. This statements states about which form of business?

Q.

What Is One of the Biggest Disadvantages of Partnerships?

Q.

How are partnerships formed?

Q.

Mr. Ram has his own artificial jewellery shop. He prefers to not join hands with any other persons, why?

1. He wants a small business. Limited savings and a personal connection to the business.

2. He wants a small business but prefers more risk.

3. He wants a small business. He prefers to roam and get clients.

4. None of the above.

Q.

What Are 5 Characteristics of a Partnership?

Q.

Which of the following may be a contingent liability?

1. Sales tax owed

2. Accrued interest

3. Future lawsuits claims

4. Customer deposits

Q. Long answer Type questions

What is business risk? Explain various causes of business risk

Q.

What are the disadvantages of a general partnership?

Q.

Name the business organisation in which the owner is considered as the sole risk bearer and profit recipient.

Q.

For which type of business is sole proprietorship form more suitable?

Q.

What are the disadvantages of partnerships and sole proprietorships?

Q.

What do you understand by sole proprietorship firm? Explain its demerits.

Q.

For which of the following types of business, do you think a sole proprietorship form of organisation would be more suitable?

1. Internet cafe

2. Craft centre

3. Grocery store

4. Medical store

Q.

What companies have partnerships?

Q.

What is the meaning of partnership?

Q.

Ganga Dhar was working under the production unit of a large scale company producing wide variety of toiletries for last five years. Though the company earns huge profits but no increment or bonus is given to the workers. To the employees, the company doesn't give any concession or discount if they want to purchase the products manufactured in the company directly from sales department. Ganga Dhar with his 10 other colleagues decided to resign from his job. They decided to open their own business organisation, where economic interest of all its members will be promoted, values of mutual help and welfare will be emphasised, the goods and services will be made available directly from producers to consumers at very reasonable prices by elimunating the role of middlemen.

(a) Name and explain the form of organisation which Ganga Dhar has decided to opt for his business.

(b) Explain briefly any four merits of such type of organisation.

Q.

What Are the Two Main Advantages and Disadvantages of Partnerships?

Q.

Why Are Partnerships Easy to Set Up?

Q.

A sole proprietor is less inclined to take risks in the form of innovation or expansion. Why?

Q.

What Is the Most Common Type of Partnership?

Q.

What are the types of partnership?