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Preeti Dabral 3 years, 1 month ago
A lump-sum payment is an amount paid all at once, as opposed to an amount that is divvied up and paid in installments.
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Sia ? 3 years, 1 month ago
A departmental store is a large establishment, which sells a wide variety of products and aim to satisfy all needs of the customers under one roof.
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One of the key chapters in the Business Studies syllabus is the Formation of a Company which refers to the process of registering an organization as a limited company, thus making it a definite legal entity.
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Difference between Co-operative society and Company:
| Basis of difference | Co-operative society | Company |
| (i) Regulations | It is governed by the Co-operative Society Act, 1912. | It is governed by the Companies Act, 2013. |
| (ii) Transfer of share | The members of co-operative societies cannot transfer their shares. | Shares can be easily transferred in case of a public company but not in the case of a private company. |
| (iii) Aim | The main aim of a co-operative society is to render services to its members. The word cooperative means working together and with others for a common purpose | The main aim of a company is to earn profits. |
| (iv) Number of members | Minimum 10 members are required to form a co-operative society, while there is no limit on the maximum number of members. | For private company: Minimum-2, Maximum-200, For public company-Minimum-7, Maximum-No limit. |
| (v) Control | Managed and controlled by the elected managing committee. | Managed and controlled by the Board of Directors. |
| (Vi) Government support | Support in the form of low taxes, subsidies, loans at a low rate of interest, etc are provided by the government. | No government support is provided to companies. |
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The Karta has unlimited liability. The liability of all other members of Joint Hindu Family Business is limited to the extent of their share in the property of the family business.
Karta is responsible for taking decisions and all other members need to follow his instructions. Only the karta has legal rights to enter into contract with outsiders. So if he takes a wrong decision it is his fault and he would have to pay off the debts by selling personal assets if there are inadequate funds in the business.
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Preeti Dabral 3 years, 1 month ago
An equity joint venture (EJV) is an agreement between two companies to enter into a separate business venture together whereas Contractual joint venture(CJV) is an agreement in which two parties come together for a particular business project and sign a contract outlining the terms under which they will work together.
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