Login

difference between partnerships firm and cooperative society

Partnership firm --
Members - Minimum 2 members, Maximum 20 and 10 in case of banking
Governed - Partnership Act 1932
Registration - Not mandatory but recommended
Liability - Unlimited 
Continuity - Lack of continuity if any partner gets insolvent, etc
Capital - Unlimited
Example - Google, Facebook, etc..
Co-Operative Society --
Members -- Minimum 10 members, Maximum as per choice
Governed - Indian Cooperative Societies Act 1912
Registration - Compulsory
Liability - Limited
Continuity - Societies are continuable
Capital - Limited
Example - AMUL, KRIBHCO, etc..




 
  • 13
View Full Answer
"Profit can no more be the objective of business than eating is the objective of living".Explain
  • 2
Please answer this question
  • 7
Hey Sumit, Business can be without profit motive also. The cooperative form of business is a type of business without any profit motive. People usually work in cooperation for mutual help.
  • 5
Please find this answer

  • 0
PARTNERSHIP FIRM:
It is the relation between two or more persons who have agreed to share profit of the business. Business carried on by all or any one of them for all.

COOPERATIVE SOCIETY:
It is thee voluentry organisation of people who join together for mutual help.Motive is not earning more profit but their aim is to provide mutual help. They work with the principle of each for all and all for each.
  • -1
????

  • 0
partnership firms It is a relation between persons Who have agreed To share The profits of a business Carried on by all or any of them acting by all. cooperative society it means working together n with others for a common purpose.
  • 1
Co-operative Society- A co-operative
Society is a voluntary Association of Persons of moderate means who unite together to protect and promotes their common economics
Interest
  • 0
What are you looking for?