Membership by birth is main feature in
a. Sole trader
b. Joint Hindu family business
c. Co-operative society
d. Partnership
Answers
Answered by
0
The correct answer to this question is choice A i.e. Sole Trader or Sole Ownership. It is an organisation where membership is acquired by birth.
Few main features of this type of an organisation are:
••• Sole proprietorship is the simplest and most flexible business structure.
••• The sole proprietor has total control and full decision-making power over policies, profits and capital investment.
••• It is easy to close down the business.
••• Profits from the business will be taxed at the sole proprietor's marginal tax rate, which may be lower than the corporate tax rate.
Few main features of this type of an organisation are:
••• Sole proprietorship is the simplest and most flexible business structure.
••• The sole proprietor has total control and full decision-making power over policies, profits and capital investment.
••• It is easy to close down the business.
••• Profits from the business will be taxed at the sole proprietor's marginal tax rate, which may be lower than the corporate tax rate.
Similar questions