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Difference between sole proprietorship,joint hindu family …

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Difference between sole proprietorship,joint hindu family and partnership?

Posted by Navjot Gill 7 years, 8 months ago

CBSE > Class 11 > Business Studies

1 answers

Subir Kar 7 years, 8 months ago

In sole proprietorship a business enterprise ownrd by a single owner. Investment in business is done by himself, all the benefits of business is enjoyed by him and all the risk of business is to be borne by him. A business runned by a Hindu undevided family (HUF) ie. any joined family in lndia, and all the business affairs are performed by the mukhia of the family or may be delivered by him to the members of the family or any one acting for all. The profits or loss and risks are to be borne by the members. According partnership Act 1932 sec.4, defines, partnership is the relation of persons who agreed to share profits of a business carried on by all or any one acting fo all. Min no of partners - 2 Max no of partners - 50

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