Basic Concept of business studies
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    Basic Concept of business studies

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    This edition of the book has been revised and updated. according to the simple and reliable theory. . The book has several and unique feature which make it distinct from other books. This book is specially make for all types of students. They can re...

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    Forms of business organisations.

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                                A business enterprise is an organisation which is engage in some business or commercial activity
                            
                              
                              
                                
                                  
                                  
                                
                              
                             
                            
    
                            
    
                              
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    A business enterprise is an organisation which is engage in some business or commercial activity. 
    Every business enterprise is a separate and distinct unit of business. 
    A business undertaking is an organisation which is engage in some business or commercial activities. 
    
                          
           SOLE PROPRIETORSHIP.
    
                          
    
                            
    
                                   Features:       ¤  No separate legal entity
                            
                              
                              
                                
                                  
                                  
                                
                              
                             
                            
    
                            
    
                              
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       Features:
           ¤  No separate legal entity. 
           ¤ Freedom of operation. 
            ¤ Formation and closure. 
           ¤ Unlimited liability. 
    
                          
    
                            
    
                                Merits:     ¤ Direct incentive
                            
                              
                              
                                
                                  
                                  
                                
                              
                             
                            
    
                            
    
                              
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    Merits:
         ¤ Direct incentive. 
         ¤ secrecy. 
          ¤ Sense of accomplishment. 
         ¤ Personal touch 
    
                          
    Demerits:
          ¤ Unlimited liability.
           ¤ limited managerial skills 
            ¤ limited resources.
            ¤ lack of continuity. 
    
                          
         JOINT HINDU FAMILY. 
    
                          
    
                            
    
                                 
                            
                              
                              
                                
                                  
                                  
                                
                              
                             
                            
    
                            
    
                              
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