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:
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?
Which of the following pairs are correctly matched according to private organisation partnership types ?
- Sole Proprietorship - A law firm
- Partnership - A local bakery
- Corporation - Google
Assertion (A): Public sector organisations provide greater job stability compared to private sector organisations.
Reason (R): Public sector organisations base promotions on seniority, which reduces the risk of termination due to non-performance.
Select the correct answer from the codes given below:
Choose the correct statement(s) regarding Non-Profit Organisations in India.
Organisations like Akshaya Patra Foundation and Goonj focus on addressing social issues like hunger and clothing poverty.
All NPOs in India must operate under government control to maintain their tax-exempt status.
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: