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Ncert business studies book class 11
Which of the following is a cause of business risk?
Further, the partners are jointly and individually liable for payment of debts.
Major achievements of bhel include: Installed equipment for over 90,000 MW of power logo creator v5 keygen generation for utilities, captive and industrial users.It is precisely for this purpose that in our opening case Nehas father suggested she should consider switching over to the company form of organisation.Ncert Solutions are designed by teachers and experts at Topperlearning.There is no compulsion with respect to registration of the firm.Profit is the reward for risk taking: An entrepreneur bears risks and in consideration, he gets rewarded in the form of profit.It comes into existence through a legal agreement wherein the terms and conditions governing the relationship among the partners, sharing of profits and losses and the manner of conducting the business are specified.He/she does not take active part in managing the firm, does not share its profit or losses but is liable, like other partners, to the third parties, for the repayments of the firms debts.(a) Mining (b) Lumbering (c) Animal husbandry (d) Hunting Question.As a consequence, decisions are likely to be more balanced.But this form of organisation too suffers from certain limitations such as limited resources, lack of incentives, dominance of the karta and limited managerial ability.The owner is, therefore, held responsible for all the activities of the business.
It supplies raw materials, equipment and other inputs to the members and also buys their output for sale.
It includes banking, finance, insurance, communication, transportation etc.
Classification on the basis of liability (i) General Partnership: In general partnership, the liability of partners is unlimited and joint.It includes: (i) Channels of distribution (ii) Storing and warehousing facilities (iii) Packaging, grading and trade marks.In other forms of organisations like partnership and company, there is no such problem.Distance or Place: This hindrance is removed by transportation.His liability in the event of losses or companys failure to pay debts can be only up.Workers performance and attitude: Every business enterprise must aim at improving its workers performance and creating positive attitudes towards workers.Suppose Rani is a friend of Seema who is a partner in a software firm Simplex Solutions.Social security: Businessmen follow certain social welfare programmes like group insurance, provident pratiyogita darpan feb 2012 pdf fund, pension fund, medical facilities of employees, etc.It is currently exporting over 15 percent of the output and has four manufacturing facilities in New Delhi and three at Mumbai.