Identify the correct statement(s) regarding Proprietorship Firm
- It has the lowest documentation requirements.
- The management is handled by the proprietor.
- It does not enjoys limited liability.
AAll of these
Bii, iii
Ci, ii
Dii only
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Related Questions:
Assertion (A): The introduction of the New Economic Policy in 1991 led to significant growth in the Indian economy due to increased private sector participation.
Reason (R): The New Economic Policy allowed private sector organisations to operate in industries previously reserved for the public sector.
Select the correct answer from the codes given below:
With reference to Public Organisations, which of the following statements are correct?
Public organisations include government agencies, state-owned enterprises, and municipalities.
They are primarily focused on profit generation rather than public welfare.
Their ownership can be either fully or partially held by central or state governments.
Which of the following statements is/are correct about the role of non-profit organisations in India?
i. They focus on social issues such as education, healthcare, and poverty alleviation.
ii. They are primarily funded by government grants.
iii. They often work at the grassroots level to promote economic and social development.
iv. They are legally required to distribute profits to their members.
Which of the following statements is/are correct about private sector organisations?
i. They can raise capital through loans, shares, and debentures.
ii. They are completely free from government regulations.
iii. They focus on customer needs to ensure long-term survival.
iv. They include entities like sole proprietorships, partnerships, and multinational corporations.
Consider the following statements about the New Economic Policy of 1991:
i. It led to the opening of most industries to private sector participation.
ii. It resulted in a significant increase in the size and growth rate of the Indian economy.
iii. It eliminated all public sector organisations in India.
Which of the statements given above is/are correct?