CA Foundation Exam  >  CA Foundation Questions  >  Registration of a firm is____________a)Compul... Start Learning for Free
Registration of a firm is____________
  • a)
    Compulsory
  • b)
    Optional
  • c)
    Occasional
  • d)
    None of the above
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Registration of a firm is____________a)Compulsoryb)Optionalc)Occasiona...
Introduction:
Registering a firm means getting it recognized by the government and obtaining a unique identity. It is a legal obligation for some types of firms, while for others, it is optional. Let us understand the concept in detail.

Compulsory Registration:
Some types of firms must register themselves compulsorily with the Registrar of Firms. These include:
- Partnership firms with a profit motive, having more than 2 partners
- Limited Liability Partnerships (LLPs)
- One Person Companies (OPCs)
- Companies under the Companies Act, 2013

Optional Registration:
Some types of firms may or may not register themselves, depending on their preference. These include:
- Sole Proprietorship firms
- Partnership firms with a non-profit motive, having less than 3 partners
- Small businesses that do not require any legal recognition

Occasional Registration:
Some firms may register themselves only for a specific purpose or duration. For example:
- Firms may register for GST (Goods and Services Tax) as per the government norms
- Firms may register for certain schemes or benefits provided by the government for a limited period

Conclusion:
Thus, registration of a firm may be compulsory, optional, or occasional, depending on the type of firm and its requirements. However, it is always advisable to register a firm to enjoy various benefits such as legal recognition, access to loans, and credibility in the market.
Explore Courses for CA Foundation exam
Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer?
Question Description
Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Registration of a firm is____________a)Compulsoryb)Optionalc)Occasionald)None of the aboveCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev