1. For which of the following types of business do you think a partnership firm of organization would be more suitable, and why?
(i) Grocery store (ii) Medical store (iii) Beauty
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1. For which of the following types of business do you think a partnership firm of organization would be more suitable, and why?
(i) Grocery store (ii) Medical store (iii) Beauty
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Answer:
grocery store:
For grocery store, a sole proprietorship firm is the best because: Here, the sole proprietor has complete freedom in making business decisions.
This kind of business can be started at any time
and any where with minimum legal formalities.
(b) Medical clinic: For a medical clinic, a sole proprietorship firm is best because:There is personal satisfaction involved in running medical clinic.
This involves rendering specialised service which
is possible only in sole proprietorship.
Answer:
1) GROCERY STORE :
THE SOLE PROPRIETOR HAS COMPLETE FREEDOM IN MAKING BUSINESS DECISIONS AND THIS BUSINESS CAN BE STARTED AT ANY TIME AND ANY WHERE WITH MINIMUM LEGAL FORMALITIES.
HOPE IT HELPS