CASE STUDIES QUESTIONS BST CLASS - 11 CH - 2 FORMS OF BUSINESS ORGANISATION
CLASS -11 BUSINESS STUDIES CHAPTER - 2 FORMS OF BUSINESS ORGANISATION CASE STUDY AND VALUE-BASED QUESTIONS WITH ANSWERS Q1. In which form of organisation is a trade agreement made by one owner binding on the others? Give reasons to support your answer. Ans. In a partnership from of organisation, a trade agreement is made by one owner on the others. The Indian Partnership Act 1932, defines partnership as "the relation between have agreed to share the profit of a business carried on by all or any one of them acting for all. The definition of partnership highlights the fact that it is a business carried on by all or anyone of the partners acting for all. The partners share amongst themselves the responsibility of decision making and control of day to day activities. Q. 2. The business assets of an organisation amount to ?50,000 but the debts that remain unpaid are ? 80,000. What course of action can the creditors take if persons who (a) The organisation is a s...