Question

Difference between Company and Partnership on the basis of:

a) Formation

b) Management

c) Liability

d) Transfer of Interest ​

Answer 1

Answer:

The organisational structure in which there is separation of ownership and management is called a company. In a company, management and ownership lie in the hands of different individuals. A company is owned by its shareholders, while its management is handled by a group of elected persons known as the board of directors. The board of directors in turn appoints the top officials for managing the day-to-day operations of the business.

Hence, the correct answer is option (c).

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Answer 2

Answer:

The most common forms of business organisational structure in India are Proprietorship, Partnership and Company. Proprietorship form of organisation is used when there is a single owner of the business.

When the no. of owners is more than 1, Partnership and Company form of organisation are the most preferred. Before digging deep into which form of organisation is best for your business, let’s first analyse the differences between Partnership and Company.

Explanation:

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