Modes of Transport and Business Organizations

What are the advantages of rail transport?

• Convenient for short distances

• Relatively slower than road transport

• Suitable for carrying light goods

• Convenient for traveling long distances

What are the limitations of air transport? (Select all)

• Suitable for short distance travel

• Not affected by adverse weather conditions

• Relatively cheaper than land and water transport

• Relatively more expensive than land and water transport

What are the disadvantages of rail transport?

• Not convenient for short distances

• Relatively faster than road transport

• Not suitable for carrying light goods

• Not convenient for traveling long distances

What are the advantages of water transport?

• Promotes international trade

• Unsafe mode of transport

• Expensive mode of transport

What are the limitations of water transport?

• Not affected by weather conditions

• Requires large investment in ships and maintenance

• Suitable for short distance travel

• Relatively cheaper than land and air transport

What are the characteristics of a sole proprietorship?

• Multiple ownership

• Sharing of profit and loss

• Limited liability

• Ease of formation

What are the characteristics of a partnership business?

• Membership by birth

• Single ownership

• Limited liability

• Continuity of business

What are the characteristics of a HUF / Joint Hindu Family Business?

• Management by Karta

• Unlimited liability for all members

• Restricted membership to three generations

• Membership by agreement