In a partnership organisation, the decisions are not taken by mutual consent of the partners.
The business assets of an organisation amount to Rs. 50,000 but the debts that remain unpaid are Rs. 80,000. What course of action can the creditors take if (a) The organisation is a sole proprietorship firm (b) The organisation is a partnership firm with Anthony and Akbar as partners. Which of the two partners can the creditors approach for repayment of debt? Explain giving reasons
State True or False. In a partnership organisation, the decisions are not taken by mutual consent of the partners.
State True or False. In a partnership organisation, the capital is contributed by a number of partners.
What kind of strategic decisions are taken by business organisations?