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Question
Define the following business entities:
Partnership
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Solution
A partnership is a form of business in which two or more persons come together to carry on a business and share its profits and losses as per an agreed-upon partnership deed.
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RELATED QUESTIONS
Define 'partnership firm'. Explain its merits and demerits.
Distinguish between Partnership Firm Joint Stock Company
Long answer type question.
Define Joint Stock Company and explain its features.
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Group 'A'
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Group 'B'
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a. Public Company
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1. Father of Scientific Management
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b. Henry Fayol
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2. Corrective action taking.
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c. Controlling
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3. Commercial bank
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d. Reserve Bank Of India. (R.B.I.)
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4. Withdrawal after fixed period of time.
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e. Fixed deposit account
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5. Maximum 50 members.
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6. Central Bank
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7. Unlimited members
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8. Father of modern management
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9. Taking action against employees
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10. Withdrawal before the fixed period of time.
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Feature of Partnership Firm?
State Whether the Following Statement Is True Or False (Give Reason).
The liability of the Karta is limited and that of coparceners is unlimited.
Explain the merits of partnership.
Explain the limitations of partnership.
In which form of organisation is a trade agreement made by one owner binding on the others? Give reasons to support your answer.
