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Questions and Answers
What does the term 'business organization' refer to?
What does the term 'business organization' refer to?
The term 'business organization' refers to how a business is structured.
Name four types of business organizations mentioned in the text.
Name four types of business organizations mentioned in the text.
Sole Proprietorship, Hindu Undivided Family Business, Partnership Firm, Company (Private Limited and Public Limited)
What are some factors that govern the choice of the form of business organization?
What are some factors that govern the choice of the form of business organization?
The nature of business, scale of operations, degree of control desired by the owner(s), amount of capital required, volume of risks and liabilities, and comparative tax liability.
What is the definition of a sole proprietorship?
What is the definition of a sole proprietorship?
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What is the importance of the nature of business when choosing a form of business organization?
What is the importance of the nature of business when choosing a form of business organization?
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