Distinguish between business profession and employment
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A business is organized to produce or distribute goods or services to society in order to earn profit. It involves various kinds of activities such as purchase, sale, store, transport, finance, service which a
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Distinguish between business profession and employment
Business capital investment required as per size and nature of business
* No minimum qualification is required
* Transfer possible with some formalities
* Profit are uncertain and irregular risk is present
Profession is capital investment is limited needed for establishment
* Fee is generally regular and certain some risk
* Transfer of interest is not possible
* Professional code of is to followed
Employment no capital required
* Qualification and training prescribed by the employer
* fixed and regular pay, no risk
* Norms of behaviors laid down by the employer are to be followed
* Transfer of interest is not possible
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