Tag Archives: sole-proprietorship

Introduction To Business Notes

Introduction To Business Notes Click on your required topic: Introduction Organizational boundaries and environments Business organization Sole proprietorship and its characteristics Partnership and its characteristics Joint stock company Legal documents issued by a company Winding up of company Cooperative society Who are managers? Human resource management Staffing Staff training & development Business manager’s responsibility profile Compensation and benefits Strategies for …

Read More »

Write merits and demerits of sole-proprietorship

Write merits and demerits of sole-proprietorship   Merits Formation Sole benefits You’re the boss Secrecy Personal contact You keep all the profits Maximum privacy Management and control Less government regulation No additional taxes Easily wind up Demerits Capital is limited Unlimited liability Poor decision making Uncertain life Lack of specialization

Read More »

Give the difference between sole-proprietorship and partnership

Give the difference between sole-proprietorship and partnership Sole- proprietorship                                      Partnership Formation No legal formalities Formed under partnership act 1932 Liability  Sole-proprietor has unlimited Each partners have unlimited liabilities personal liability Durability Limited duration Limited duration Management Sole- proprietor run’s the management Each partners take part in the management Number of partners One person Minimum Two and maximum 20 Legal …

Read More »

Describe only four points of the advantages of sole-proprietorship

Describe only four points of the advantages of sole-proprietorship Easy formation: The formation of sole proprietorship business is very easy and simple. No legal formalities are involved for setting up the business excepting a license or permission in certain cases. The entrepreneur with initiative and certain amount of capital can set up such form of business. Direct motivation: The entrepreneur …

Read More »
Skip to toolbar