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Forms of Business Organisation-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMForms of Business Organisation-13 Marks
Question
Give the meaning of Communication.
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Answer

  • Meaning of individual proprietorship:
  • When the only one person establish business, manages capital and bears loss and enjoys profit himself is called sole proprietorship.
  • Characteristics of sole proprietorship :
  • Simple establishment
  • Less capital
  • maintain secrecy
  • Quick decisions
  • personal contact
  • unlimited liability
  • Flexibility
  • Less burden of taxation
  • Freedom of work.

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