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Mind Map: Forms of Business Organisation | Business Studies (BST) Class 11 - Commerce PDF Download
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FAQs on Mind Map: Forms of Business Organisation - Business Studies (BST) Class 11 - Commerce
| 1. What are the different forms of business organization? |  |
Ans. The different forms of business organizations include sole proprietorship, partnership, corporation, and cooperative.
| 2. What is a sole proprietorship and how does it work? | |
Ans. A sole proprietorship is a form of business organization where a single individual owns and operates the business. The owner has complete control and is responsible for all the business decisions and liabilities.
| 3. What is a partnership and what are its advantages? | |
Ans. A partnership is a form of business organization where two or more individuals come together to run a business. The advantages of a partnership include shared responsibilities, shared capital investment, and the ability to benefit from each partner's expertise and skills.
| 4. What is a corporation and what are its characteristics? | |
Ans. A corporation is a legal entity separate from its owners, known as shareholders. It is owned by shareholders and managed by a board of directors. The characteristics of a corporation include limited liability, perpetual existence, and the ability to raise large amounts of capital through the sale of stocks.
| 5. What is a cooperative and how does it function? | |
Ans. A cooperative is a form of business organization where a group of individuals or businesses come together to pursue a common economic goal. It functions by pooling resources, such as capital and labor, and sharing the profits and benefits among its members. Co-operatives are often formed to provide goods or services that may not be easily accessible in a particular area.
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Dec 22, 2024 Last updated |
Document Description: Mind Map: Forms of Business Organisation for Commerce 2024 is part of Business Studies (BST) Class 11 preparation.
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