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 public sector organisations:
i. The government holds either full or partial ownership of public sector organisations.
ii. Their primary motive is to generate maximum profits for the government.
iii. They provide services in areas such as healthcare, education, and transportation.
Which of the statements given above is/are correct?
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:
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
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.