Which of the following statements about Partnership Firm are correct?
- Management of a Partnership Firm is typically handled by Partners
- It enjoys limited liability.
- Documentation is low
AAll
B1, 3
C3 only
D1 only
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Related Questions:
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 private sector organisations:
i. They can be small-scale, medium-scale, or large-scale entities.
ii. They offer greater job security compared to public sector organisations.
iii. Their capital is raised through private investments, loans, or issuing shares.
Which of the statements given above is/are correct?
With reference to Non-Profit Organisations, which of the following statements are correct?
NPOs are expected to be value-based and serve public or social purposes.
They are legally required to distribute profits to shareholders.
Examples include organisations like Pratham and Teach For India, which focus on education.
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?
Which of the following is true about a Limited Liability Partnership (LLP) ?
- It is governed by the LLP Act.
- It provides limited liability to partners.
- It is taxed as double tax (corporate + dividend).