Question

5-6 Marks Questions
19. "Risk is the element which makes the business different from other economic activities." Do you agree?
Justify your answer.
20. What is a statement in lieu of prospectus? When is it prepared?
21. Commerce is the sum total of activities that remove hindrances in the free flow of goods from producer to
consumer. Explain.
22. Ramesh wants to start a business. Explain any four factors which he could consider before starting the
business
23. Which one of the broad categories of industries cover oil refineries and sugar mills? Explain the type of that
industry
24. Discuss the various types of partners and indicate in which cases, the partners have unlimited liability?
25. Differentiate between Article of Association and Memorandum of Association?
26. What are the causes for the possibilities of inadequate profits due to uncertainty or unexpected situation?​

Answer 1

Answer:

must look at competitive factors around him