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Question
Amisha starts a handloom business with an investment of ₹5,00,00,000. With a few other people, she cooperatively owns Karnataka Cloth Federation.
How is Amisha's business categorised?
Amisha starts a handloom business with an investment of ₹5,00,00,000. With a few other people, she cooperatively owns Karnataka Cloth Federation.
How is Amisha's business categorised?
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Solution
The correct option is D Based on ownership: Private sector industry
Based on ownership, Amisha's handloom business falls in the private sector industry as private individuals own the company. The Karnataka Cloth Federation, however, falls in the cooperative sector industry as a group of individuals cooperatively owns it.
Based on the firm's size, Amisha's handloom business falls in the small-scale industry as the investment in plant and machinery is between ₹1 crore and ₹10 crore.
Based on ownership, Amisha's handloom business falls in the private sector industry as private individuals own the company. The Karnataka Cloth Federation, however, falls in the cooperative sector industry as a group of individuals cooperatively owns it.
Based on the firm's size, Amisha's handloom business falls in the small-scale industry as the investment in plant and machinery is between ₹1 crore and ₹10 crore.
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