Karim after completing his XIT exam from his village school joined the course of electrician in an ITI in a town near his village. On completion of this course he tried
for a government job but could not get the same. He, therefore decided to help as a
worker to a renowned electrician in that area. After working with him for two
years he decided to start his own electrician shop in the village. For this he purchased
equipment for 10,000 and hired a shop at a monthly rent of 2000. He decided
to manage the shop by himself.
On the basis of the given information, answer the following questions:
(a) Identify the form of business organisation started by 'Karim'.
(b) State any four characteristics of such a form of business organisation.
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Answer:
Ans- 1 Hardware Electrical is the business organisation started by Karim.
Ans- 2 The Characteristics of such a form of business organisation.
1.Raising Capital/Finances. ...
2.Nature of Liability. ...
3.Scope of Control. ...
4.Continuity and Stability. ...
5.Flexibility
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