Question

Mr. Joseph worked as a manager in ‘Highend Traders’ a trading company. He

decided to start his own business selling similar products. After preparing all

details he realized that he does not have sufficient funds to start business on

his own. He discussed the business plan with his friend Raman and both

decided to join hands as partners. They opened a bank account in Indian

Bank for business transactions and prepared all documents to register their

business. Ranbir, Joseph’s colleague in Highend Traders also wanted to be

part of business but did not want to leave a secured job. So he decided to

invest money in business but not to take active part in the activities. Ranbir

used his position to inform Joseph about the important decisions and

strategies followed by Highend Traders. The CEO of Highend Traders came to

know about the conspiracy of Ranbir and terminated him from his services.

On the basis of the given information about Highend Traders, answer the

following questions:

(a) Identify the form of business which Joseph and Raman decided to form.

State any two benefits of registering this type of business organization.

(b) Identify what type of member is Ranbir in this organization? Quote

lines to support your answer.

(c) Which value is being ignored by Ranbir?​

Answer 1

Answer:

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