Bst clss 11 cbse
Dear Student,
Note: This question is related to business studies not accountancy. On this basis, we are going to solve the question.
Case: Aniket is doing his business in sole proprietorship form. The business is to run a coaching centre. He wants to expand his business. So that he plan to buy another property to set up centre but property dealer gives him an offer
a) To give him partnership in business.
b) so that aniket is liable half of the price of the property.
Solution: Partnership is a relation between persons competent to make a contracts to make a contract who have agreed to carry on a lawful business in common with a view to private gain. - LH HANEY
Feature of Partnership:
1)Sharing Profit and loss
2)Unlimited Liability
3)Ease of formation and disclosure
Aniket should accept the offer of property dealer and change his form of business in partnership because
1) Aniket can share his risk with property dealer and they can make ratio of sharing profit and loss on the basis of risk sharing.
2) Aniket having unlimited liability in sole proprietorship. Now in partnership form, generally all the partners have unlimited liability but not in limited partnership. Now for any debt, both the partners are liable.
3)Formation of partnership is very easy. Registration of partnership form of business is not compulsory.
Regards
Note: This question is related to business studies not accountancy. On this basis, we are going to solve the question.
Case: Aniket is doing his business in sole proprietorship form. The business is to run a coaching centre. He wants to expand his business. So that he plan to buy another property to set up centre but property dealer gives him an offer
a) To give him partnership in business.
b) so that aniket is liable half of the price of the property.
Solution: Partnership is a relation between persons competent to make a contracts to make a contract who have agreed to carry on a lawful business in common with a view to private gain. - LH HANEY
Feature of Partnership:
1)Sharing Profit and loss
2)Unlimited Liability
3)Ease of formation and disclosure
Aniket should accept the offer of property dealer and change his form of business in partnership because
1) Aniket can share his risk with property dealer and they can make ratio of sharing profit and loss on the basis of risk sharing.
2) Aniket having unlimited liability in sole proprietorship. Now in partnership form, generally all the partners have unlimited liability but not in limited partnership. Now for any debt, both the partners are liable.
3)Formation of partnership is very easy. Registration of partnership form of business is not compulsory.
Regards