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Question

A ___________ is the oldest and simplest form of business organisation.

A

Partnership Firm

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B

Sole Trading Concern

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C

Joint Stock Company

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D

None of these

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Solution

The correct option is B Sole Trading Concern
A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he/she is the single receiver of profit earned.

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Q. a) From legal point of view, a joint stock company is recognised as separate legal entity from the shareholders.
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Q. Explain the term 'trading or equity'. Why, when and how can it be used by a business organisation?

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