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): Public sector organisations primarily focus on providing goods and services to the general public at relatively lower costs compared to private sector organisations.
Reason (R): The capital for public sector organisations is primarily sourced from tax collections, excise duties, and government-issued bonds.
Select the correct answer from the codes given below:
Which of the following statements are correct?
- Government entities include only the National Governments.
- State Governments and Local Governments are also types of government entities.
- Other Authorities are recognized as a category of government entity.
Consider the following propositions in connection with public sector organizations:
(i) Public sector organizations are primarily owned and controlled by central, state, or local government bodies.
(ii) The primary objective of public sector organizations is to generate profit for the government.
(iii) Public sector organizations provide employment benefits such as job security, housing, and retirement benefits.
(iv) Public sector organizations operate in areas like police, military, healthcare, and education.
Which of the following is correct?
With reference to the impact of the New Economic Policy of 1991 in India, consider the following statements:
It led to the opening of most industries to the private sector.
It significantly increased the size and growth rates of the Indian economy.
It reduced the role of public sector organizations in key industries.
It eliminated all non-profit organizations from economic activities.
Which of the statements given above are correct?
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: