You are a business consultant. Mr. Kumar has recently retired from government service. He wants to setup a factory in order to manufacture plastic goods. He has come to consult you so that you may suggest to him a suitable for of business organization. The following are his main expectations from the business organization:
Easy of formation
Flexibility in operation
Sharing of profit with limited persons
Sufficient person to look after various business activities
Which form of business will you suggest to Mr. Kumar and why?
Answers
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Answer:
I will suggest mister Kumar the best is partnership because .......
Explanation:
A partnership is best because doesn't pay taxes on its income but "passes through" any profits or losses to the individual partners. Each general partner can act on behalf of the partnership, take out loans, and make decisions that will affect and be binding on all the partners
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