Download App

Forms of Business Organisation — Business Studies STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesForms of Business Organisation3 Marks
Question
Explain procedure of registering a partnership firm.
✓

Answer

Procedure for Registration: In order to get a partnership firm registered an application in the prescribed form must be filed with the Registrar of Firms.The application should contain the following information:
  1. The name of the firm.
  2. The principal place of business of the firm.
  3. Names of other places where the firm's business is carried on.
  4. Names in full and permanent addresses of the partners.
  5. The date on which each partner joined the firm.
  6. Duration of partnership, if any.
The application should be signed and verified by each partner. A small amount of registration fee is also deposited along with the application. The application is to be submitted to the Registrar for registration of the firm for its verification. If everything is in order and all legal formalities have been observed, the Registrar shall make an entry in the register of firms. He will also issue a certificate of registration. Any change in the information submitted at the time of registration, should be communicated to the Registrar. Registration does not provide a legal entity to the partnership firm.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Forms of Business Organisation→Forms of Business Organisation — all question types→Business Studies STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What are the functions of commerce?
→
Differentiate between contract manufacturing and setting up wholly owned production subsidiary abroad.
→
Which industries are classified as Small Scale Industries? Also give the main features of these industries.
→
Explain the factors which affect the choice of form of business organisation.
→
From social welfare point of view, which type of organization is most desirable from employment generation point of view?
→
Identify any six major industries that are grouped in the small scale sector of India.
→
Mr. Gurcharan Singh Khanna, a resident of India wants to import heavy machinery and equipments from Mr. Jacob Lamb in Italy. As he is a new entrant in international trade.
You are requested to suggest him the various steps of import procedure that he needs to perform before placing an order.
→
A private company is planning to set up a thermal power plant in Sikkim. The local residents are worried that the pollution caused by the plant will have a detrimental effect on the surroundings. The management of the company wants to reassure the residents that the firm will take all possible steps to control environmental pollution.
Explain the roles that the company can play to control the environmental pollution.
→
Sarthak has taken a fire insurance policy for his warehouse. Due to fire, he suffered a loss of ₹5,00,000 and gets a compensation claim from the insurance company. The damaged stock can be sold for ₹15,000.

Who has the right over this amount? Why? State the relevant insurance principle in this regard.

→
Dubai and USA by establishing places of business in these countries. In order to increase sales in Dubai the company adopted selling strategies like sales promotion and advertising. As the company had an excellent credibility in the capital market, it was able to meet all its financial requirements by borrowing from Citi Bank.

On the basis of the given information about Ajit, answer the following questions:

(a) Identify and explain the auxillaries to trade used by Ajit for running his business. Also quote lines.

(b) Identify the type of trade carried on by Ajit earlier and now.

→