5 Questions
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.
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?
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?
A sole proprietorship is a form of business organization where the ownership and management are in the hands of a single individual.
What is the importance of the nature of business when choosing a form of business organization?
The nature of business is an important factor as it influences the choice of the form of business organization based on its specific requirements and characteristics.
Discover the different types of business organizations in this quiz. Test your knowledge on sole proprietorship, partnership firms, private and public limited companies, and more. Explore the various forms of business structures and find out which one suits your entrepreneurial aspirations.
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