Mahesh Sharma operates an iron and steel business for last 25 years. His family is joint and
has a lot of ancestral property. All the twenty family members are a part of this business. He is
the eldest male member in the family so he heads the business. He is liable to all the creditors of
the business and he is the decision maker. Sharma's grandson was born a few days ago and he is
also a member of the business.
On the basis of the given information about Mahesh Sharma, answer the following questions:
a) Which form of business is being undertaken by Mahesh Sharma?
b) Identify the features of the form of business organization identified in part (a)
Answers
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Explanation:
a) Cooperative business.
b)Advantages of a Cooperative
1. Less Taxation.
2. Funding Opportunities.
3. Reduce Costs and Improve Products and Services.
4. Perpetual Existence.
5. Democratic Organization.
6. Obtaining Capital through Investors.
7. Lack of Membership and Participation.
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