Question

Name the form of a business organization existing in India
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Answer 1

Explanation:

In India, there are several forms of business organizations viz, Limited Company, Limited Liability Partnership (LLP), Partnership Firm and Sole Proprietorship.

Answer 2

Some forms of business organization existing in India are Private Ltd Company, Public Ltd Company, Unlimited Company, Sole proprietorship, Partnership, Cooperatives, Limited Liability Partnership(LLP) and Subsidiary Company.

Explanation:

• The private limited company has shareholders to transfer their shares. Has a max of 50 members. The public limited company allows a minimum of seven members and has a minimum paid-up capital of 5 lakh.

• The sole proprietorship is a form of business entity that manages the entire organization and is responsible for the profits and losses. The partnership is a mutually shared business carried forwards by the partners.

• The cooperatives are a voluntary organization where the members work together for the promotion of interests. The LLP is a partnership that does not terminated on the death of the limited partners.

• A subsidiary company s one that has 100% of e foreign direct investments. Can set up a wholly-owned subsidy.

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