Business Organizations Quiz 3 marks

You are Business Consultant. Mr. Rajesh has recently retired from the government service. He is 58 years old and he wants to set up a factory in order to manufacture plastic containers. He has come to consult you may suggest to him a suitable form of business organization. The following are his main expectations from the business organization - (a) Easy Formation (b) Flexibility in operations (c) Sharing of profits with limited persons (d) Sufficient persons to look after various business activities. Which form of business will you suggest to Mr. Rajesh and why?

Karam Chand, in order to promote local craftsmen of Gujarat, formed an organisation wherein the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organisation was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of 'One member, One vote'.On the basis of the given information, answer the following questions - (a) Identify the form of business organisation setup by Karam Chand. (b) Quoting the lines from the above para, enlist any three features of this form of organisation

Sudha is doing an export business. Every time she would procure an export order, she felt stressed and had an anxiety about completing it on time. Few years later, her younger sister Gita, after completing a course in fashion designing, joined her in business as a partner. Consequently, Sudha realised that her level of stress and anxiety related to business operations had reduced considerably she had started feeling more relaxed. However, at the same time she noticed that since both of them differ in their choice of colours for making garments, lot of time is being wasted in reaching a mutual consent. (a) Identify and explain the related merit of partnership being highlighted in the above paragraph. (b) Also, state the related demerit of partnership being described in the paragraph.

Discuss the various steps involved in the incorporation of the Company.

Cooperative society offers various advantages as compared to other forms of business organisation. Comment

According to the Partnership Act 1932, it is not compulsory for a partnership firm to get itself registered, then why do partners prefer to get the firm registered?