Question

People may come and people may leave, but I go on forever” is Applicable to Business organization" 2 points

Answer 1

Answer:

Sorry question's not clear.

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Answer 2

"People may come and people may leave, but I go on forever” is applicable to which business organization?

The answer is company.

• In a sole proprietorship, the business is owned and controlled by only one person. This means that the death, insanity, imprisonment, physical ailment or bankruptcy of a proprietor affects the business. This may even lead to the closure of business. It thus has limited life.
• In a partnership, there is lack of continuity of business as the death, retirement, insolvency or insanity of any partner can end the business. But the remaining partners may continue the business, if they want to , on the basis of a new agreement.
• A company is a separate entity, independent of its owners. Its existence is not affected by the death, retirement, resignation, insolvency or insanity of its members. It will in fact continue to exist even if every member dies. A company can be liquidated only as per the provisions of the Companies Act, 2013.

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