Business Studies

Forms of Business Organisation

Question:

How does a cooperative society exemplify democracy and secularism? Explain.

Answer:

Cooperative is a form of organization wherein persons voluntarily associate together as human beings on the basis of equality for the promotion of an economic interest for themselves. In a cooperative society, the power to take decisions lies in the hands of an elected managing committee. The right to vote gives the members a chance to choose the members who will constitute the managing committee and this lends the cooperative society a democratic character. Also, the principle of ‘one man, one vote' governs the cooperative society, irrespective of the amount of capital contribution by a member, each member is entitled to equal voting rights. The membership of a cooperative society is voluntary. A person is free to join a cooperative society, and can also leave anytime as per his desire. Membership is open to all, irrespective of their religion, caste and gender. Thus, by keeping all these points in mind, a cooperative society exemplifies democracy and secularism.

previuos
next

Forms of Business Organisation

Q 1.

X is interested in the floatation of a company. Briefly discuss the steps he should take.

Q 2.

What is the role of Karta in Joint Hindu Family business?

Q 3.

Compare the status of a minor in a Joint Hindu Family Business with that in a partnership firm.

Q 4.

What is meant by ˜partner by estoppel'? Explain.

Q 5.

Define promoter. What are the functions of a promoter?

Q 6.

Explain meaning, features, merits and demerits of Sole Proprietorship.

Q 7.

Explain different types of partners.

Q 8.

Explain procedure of registering a partnership firm.

Q 9.

Explain procedure of registering a partnership firm.

Q 10.

Explain meaning, features, merits and demerits of partnership firm.

Q 11.

What are the steps required for raising funds from public?

Q 12.

Explain meaning, features, merits and demerits of joint stock company.

Q 13.

What do you mean by incorporation of a company? What are the steps involved in corporation of a company?

Q 14.

State the important privileges available to a private company.

Q 15.

Discuss the characteristics, merits and limitations of the cooperative form of organization. Also describe briefly different types of cooperative societies.

Q 16.

For which of the following types of business do you think a partnership firm of organization would be more suitable, and why?
(i) Grocery store (ii) Medical store
(iii) Legal consultancy (iv) Craft centre
(v) Internet cafe (vi) Chartered accountancy firm

Q 17.

Define Articles of Association. What are its contents?

Q 18.

Is registration of partnership firm compulsory? What are the consequences of non-registration?

Q 19.

Explain the contents of Memorandum of Association.

Q 20.

Distinguish between a Joint Hindu family business and partnership.

Q 21.

What do you understand by a.sole proprietorship firm? Explain its merits and limitations.

Q 22.

Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organization. Why?

Q 23.

Distinguish between a Joint Hindu family business and partnership.

Q 24.

Explain the concept of mutual agency in partnership with suitable example.

Q 25.

For which of the following types of business do you think a sole proprietorship firm of organization would be more suitable, and why?
(i) Grocery store (ii) Medical store
(iii) Legal consultancy (iv) Craft centre
(v) Internet cafe (vi) Chartered accountancy firm

Q 26.

Explain the meaning, features, merits and demerits of cooperative society.

Q 27.

Explain different types of partners.

Q 28.

Explain the following terms in brief:
(i) Perpetual succession (ii) Common seal
(iii) Karta (iv) Artificial person

Q 29.

If registration is optional, why do partnership firms willingly go through this legal formality and get themselves registered? Explain.

Q 30.

How does a cooperative society exemplify democracy and secularism? Explain.

Q 31.

Why is partnership considered by some to be a relatively unpopular form of business ownership? Explain the merits and limitations of partnership.

Q 32.

Differentiate between:

  • Memorandum of Association and Articles of Association.
  • Private and Public Company