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:
Which of the following statements is/are correct regarding public sector organisations?
i. Public sector organisations are always fully owned by the government.
ii. They provide employment benefits such as job security, housing, and retirement benefits.
iii. Their primary aim is to serve the general public rather than generate profits.
iv. They operate in areas such as information technology and pharmaceuticals.
Statement: Private sector organizations are not secure in terms of employment stability.
Assertion: Non-performance or cost-cutting measures can lead to employee termination in private sector organizations.
Which of the following is correct?
Which of the following statements is/are correct about non-profit organisations (NPOs)?
i. NPOs are legally recognized as tax-exempt entities in India.
ii. They distribute excess profits to shareholders or members.
iii. They are expected to operate independently from the government.
iv. Their primary objective is to serve public or social purposes.
Which of the following statements about Sole Proprietorship is/are correct?
- It is owned and operated by one person.
- The owner has unlimited personal liability for all debts.
- It is a separate legal entity from its owner.
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.