Q5 of 24 Page 57

Distinguish between a Joint Hindu family business and partnership.

The difference between a Joint Hindu family business and partnership are as follows:



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3

Why is it important to choose an appropriate form of organisation? Discuss the factors that determine the choice of the form of organisation.

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

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

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In which form of organisation is a trade agreement made by one owner binding on the others? Give reasons to support your answer.