Question 1
What is a key feature of a sole proprietorship regarding liability?
Question 2
Which feature is common to both sole proprietorship and partnership regarding business continuity?
Question 3
Under what legal act is a partnership formed in India?
Question 4
How many partners are required at minimum to form a partnership?
Question 5
Which characteristic is exclusive to a sole proprietorship?
Question 6
What does the Indian Partnership Act 1932 primarily govern?
Question 7
What is the maximum number of partners allowed in a partnership in India?
Question 8
What is a significant merit of both sole proprietorship and partnership?
Question 9
Which of the following is not a merit of a sole proprietorship?
Question 10
Which feature of a partnership could potentially lead to issues in management?
Question 11
In a sole proprietorship, who has the decision-making power?
Question 12
Which is a demerit of a sole proprietorship?
Question 13
Which of these is a merit of a partnership?
Question 14
Which business organization form is characterized by unlimited liability in both cases?
Question 15
Which of the following is not a demerit of a partnership?