Question

Aman runs a garment shop in a Sky Mall. Two years back he had taken a loan of rupees 10 lakh from ICICI Bank for the renovation of his shop. However due to his Poor health for the past one year his earnings have reduced considerably as he is not able to devote sufficient time to the business. He now plans to sell of his shop. Answer the following question:-
A) Identify the limitation of sole proprietorship form of business organisation being discussed above. B) Describe briefly any two other limitations of the same form of business organisation.

Answer 1

Forms of Business Organisation – Sole Proprietorship, Partnership Firm, Limited Liability Partnership, Joint Stock Company and One Person Company (With Merits and Demerits)

Form # 1. Sole Proprietorship:

Form # 2. Partnership Firm:

Form # 3. Limited Liability Partnership (LLP):

Form # 4. Joint Stock Company:

Answer 2

Answer:

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