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 :

Licensing

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Joint venture

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Franchising

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None of the above

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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

(d) Licensing

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. When two or more firms join together to establish a new enterprise, then it is known as .

A joint stock company is a group of people who come together to pursue a common economic objective, which leads to the formation of an entity that has a separate identity from its members.

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)

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