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Introduction to Debentures

Perpetuity an...

Question

Perpetuity and separate legal entity are the two most important distinctive features of

A

Sole Proprietorship from business

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B

Partnership

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C

Company

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D

Joint Hindu Family Firm

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Solution

The correct option is A Company
Option C is the correct answer.

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Q. Fill in the blanks:
(a) Sole proprietorship is the _______ from of business enterprises, (latest / oldest)
(b) Sole proprietorship is most suitable form for _______ business, (small / large)
(c) Liability of a sole proprietor is ________ (limited / unlimited)
(d) Sole proprietorship _______ a separate legal entity, (has / does not have)
(e) It is ______ to set up a sole proprietorship firm,(easy / difficult)

Q. When two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as _________.

When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as___ .

Q. a) From legal point of view, a joint stock company is recognised as separate legal entity from the shareholders.
b) Partnership firms and sole trading businesses do not have legal entity, but they have business entity for accounting purposes.
Of these

When two or more firms come together to create a new business entity that is legally separate and distinct from its parents is known as

(a) Contract manufacturing

(b) Franchising

(c) Joint ventures

(d) Licensing

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