Sachin's father Mahesh was running a small shop selling accessories such as artificial jewellay, hair caps etc. Over the past couple of month he has been facing problem in managing it due to increase demand of the items. Although Sachin also helps his father but they both fail to attend all the customers due to space constraint. Non-availability of required finance acts as a hindrance in expanding their business. Sachin asks his father to join hands with Raja (his father's friend) to solve the problem. His father agreed and entered in to agreement with Raja in writing containing various terms and conditions. i) Which form of business organization does Mahesh form with Raja ? ii) Which documents contains the written agreement specifying the terms and conditions between Mahesh and Raja ? iii) In which form of business organization Sachin help his father to attend customers.
Answers
Answer:
Sachin is helping his father manage the small shop by attending to customers.
Explanation:
i) Mahesh has entered into a partnership with Raja. A partnership is a form of business organization in which two or more people (partners) own and operate the business together. In this case, Mahesh and Raja are working together to manage the small shop selling accessories.
ii) The written agreement containing various terms and conditions between Mahesh and Raja is called a partnership deed. A partnership deed is a legal document that outlines the rights, responsibilities, and obligations of the partners in a partnership.
iii) Sachin is helping his father in a partnership business. In a partnership, partners work together to manage and operate the business. In this case, Sachin is helping his father manage the small shop by attending to customers.
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