Expanding business activities gave rise to partnership as the sole proprietorship with its limitations could not rise according to the demand of time and requirements of expanding business activities. More capital, enhanced risk greater managerial talents and Abilities were being expected from the sole proprietorship which …
Advantages of Sole Proprietorship Sole proprietorship enjoys the following benefits over other forms of business organizations Easy Formation Setting up a sole proprietorship is very simple, because there are no special legal formalities like permission from government; preparation of necessary documents, registration etc. required to start …
Sole proprietorship is the simplest and oldest form of business organization. It is as old as civilization. This form of organization is owned by one person. He works as a financer, manager, employer, decision maker. In case of profit, he enjoys the whole profit and in …
Meaning In Sole proprietorship business organization entrepreneur (individual) introduces his own capital, uses his own skills to manage and responsible for the results profit or loss. Unlike Limited Liability Company LLC or Corporation it does not need to be registered with the state. If you are …
There are different company types limited by shares i.e. Private Limited Companies Private limited companies (or privately held corporations) are generally family or closely held businesses. The Companies Ordinance of Pakistan (1984) requires at least two members to establish a private limited company. The maximum number …
Meaning A company is a third legal business structure and has entirely a different organizational structure from the sole proprietorship or partnership. Its formation is due to firstly, the sole proprietorship and partnership cannot meet the increased capital demand of industry and commerce. Secondly, the company …
Visit a nearby market and you will find Brazilian coffee, Saudi Arabia dates, and lots of Chinese products which are the effects of foreign trade. The ultimate goal of international trade policies of any country is the expansion of market share for goods and services and …
Insurance is a contract between two parties the insured and the insurer. Certain elements in this contract must be present in order to make it legally binding and enforceable. It is, therefore, argued that the following are different principles of insurance. Utmost Good Faith Insurance contract …
