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.
A2, 3
B2 only
CAll
D1, 2
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Related Questions:
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.
Match the following organizations with their examples.
i. Public Sector Organization a. Wipro
ii. Private Sector Organization b. ONGC
iii. Non-Profit Organization c. Akshaya Patra Foundation
iv. Multinational Corporation d. Reliance
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?
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:
How many types of organizations are there?