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5 cards from this section. Quick, good the night before a test.
Define a commercial organisation.
What is the main purpose of these businesses?
What is the main objective of a sole proprietorship?
Who has the control in this type of business?
What is the primary goal of a commercial organization?
What do these businesses ultimately aim to achieve?
True or False: Sole proprietorships have unlimited liability.
Think about who is responsible for the business debts.
Assess how a public sector enterprise like Indian Railways impacts the economy compared to a joint stock company.
Consider their roles in employment, service delivery, and economic growth.
Evaluate the advantages and disadvantages of choosing a sole proprietorship over a joint stock company.
Think about control, liability, and ease of raising funds.
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