Sole Proprietorship, Partnership & Hindu Undivided Family — Important Questions
NIOS · Class 10 · Business Studies
55 important questions from Sole Proprietorship, Partnership & Hindu Undivided Family for NIOS Class 10 Business Studies, with answers.
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Important Questions from Sole Proprietorship, Partnership & Hindu Undivided Family
Which feature of sole proprietorship refers to the ease of starting the business?
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Ease of formation
Sole proprietorship is easy to form because it needs minimum legal formalities.
How are the people who join hands in a partnership individually called?
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Partner
Each individual in a partnership is called a partner.
What is the collective name for the partners in a partnership business?
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Firm
The partners collectively are called a firm.
What is the name under which a partnership business is carried on?
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Firm name
A partnership business is carried on under a firm name.
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