GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sole Trader
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Public Company
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Government Business Enterprise
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Partnership
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Detailed explanation-1: -An organization firm in India is represented by The Partnership Act, 1932. At least two individuals can shape a Partnership firm subject to a limit of a maximum of 20 partners.
Detailed explanation-2: -As the name states, a partnership is a business owned by two or more people, known as partners. Like sole proprietorships, partnerships are able to take advantage of flow-through taxation.
Detailed explanation-3: -A partnership is a form of business ownership in which the business is owned by two or more persons. A corporation is owned by stockholders, and a cooperative is owned by its members.
Detailed explanation-4: -Similar to sole proprietorships, a partnership is the simplest type of business ownership when two or more people are involved.