. Dharmesh, Soham and Radhika decided to open an ice cream parlour in the market near to their colony. Each has some special skills. Dharmesh was good in handling finance. Soham has good communication skills and Radhika was good in baking ice cream. They opened the parlour naming ‘ices and munches”. They brought the capital according to their saving and also took loan from bank.
A) Identify the type of business highlighted above.
B) identify the features of this business as mentioned in the case study above.
C) give any two demerits of such business type.
Answers
Answered by
1
Answer:
A) ice cream parlour
B) ice cream baking
C)dharmesh - handling finance, soham - communication skills
Answered by
0
The answers are given as follows:
Explanation:
- A) Partnership business is highlighted above.
- A partnership is a formal organization by two or more parties to direct and conduct a business and share its profits.
- There are numerous types of partnership agreements. In a partnership firm, all partners share profits and liabilities equally.
- B) Two features of this type of business are:
- Agreement: A partnership business comes into existence through an agreement between persons who are proficient to enter into a contract.
- Lawful Business: The partners can take up only legally sanctified activities. Any illegal activity conceded out by partners doesn’t enjoy the legal authorization.
- C) Two demerits of this business are:
- Each partner is 100% answerable for debts and losses.
- Retailing the business is difficult as it requires finding a new partner.
Similar questions