CS701 MIDTERM PAST PAPERS BY MOAAZ
predominant religion of any general public has impact over the purchasing conduct of that society. Common habitat Geological and biological factors like changes in climate and environment, tremor, floods, tempests and regular assets are considered in indigenous habitat
BUSINESS ORGANIZATION and SOLE PROPRIETORSHIP.
Business association is a demonstration of collection exercises into successful participation to acquire the objective of the business.
In the expressions of L. H. Haney “It is pretty much free complex of land, work and capital, coordinated and coordinated for useful purposes however enterprising capacity.”
Extent OF BUSINESS ORGANIZATION The extent of business association can be characterized as under: Extent of Business Organization Sole Partner-Joint Co-employable Combination Owner Ship Stock Societies Transport Company.
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SOLE PROPRIETORSHIP As indicated by D.W.T. Stafford “It is the least complex type of business association, which is possessed and constrained by one man”.
Sole ownership is the most seasoned type of business association which is possessed and constrained by one individual. Around here, one man contributes his capital himself. He is all things considered in doing his business. He partakes in the entire of the benefit. The elements of sole ownerships indicated by Partnership Act, 1932 “Organization is the connection between people who have consented to share the benefits of a business carried on by all or any of them representing all.”
Association implies a legitimate business possessed by at least two people. The benefit of the business shared by the accomplices in concurred proportion. The responsibility of each accomplice is limitless. Little and medium size business exercises are performed under this association.
It has the accompanying elements: Lawful Entity Benefit and Loss Distribution “An organization is a fused relationship of people shaped ordinarily for the pursuit of a few business purposes” A business entity is an intentional relationship of people made by regulation.
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