After reading this article you will learn about:- 1. Meaning of Business 2. Definition of Business 3. Characteristics 4. Objectives. Meaning of Business: The word 'business' literally means 'a state of being busy'. Every person is engaged in some kind of occupation: a worker works in a factory, a teacher teaches in the class, a clerk does his office work [...]
This article will help you to learn about the difference between partnership and sole tradership. Difference between Partnership and Sole Tradership Partnership 1. Act: Partnership is formed under Indian Partnership Act, 1932. 2. Number of Members: In partnership, minimum number of members is two and maximum is 20 and 10 for banking business. 3. Secrecy: In partnership, all the partners [...]
This article will help you to differentiate between partnership and co-ownership. Difference between Partnership and Co-Ownership Partnership 1. Contract: Partnership is the outcome of an agreement. 2. Number of Members: In partnership, the number of members cannot exceed the maximum limit. 3. Object: The object of partnership is to carry on some lawful business and earn profits. 4. Agent: In [...]