Ownership types <ul><li>Sole proprietorship </li></ul><ul><li>Partnership </li></ul><ul><li>Joint-stock company </li></ul>
This is a form of organization in which single individual promotes and controls the business undertakings and bears the whole risk himself is Called .Sole proprietorship. He bears all risks and takes all profits alone. This form of Organization is called sole trading concern, sole ownership, and single entrepreneur Ship. Sole proprietorship :
Partnership form of organization has developed due to the limitation of sole trading Concern it is governed by the partnership act 1932 sec. 4 of act defines partnership As “the relation between person who have agreed to share the profits of a business Carried on by all or any one of them acting for all.” the persons who are entered Into a partnership are individually called as partners” patnership:
A company is “an association of many persons who contribute money or Money’s worth to a common stock employ it in some trade or business And who share the profits and loss. Arising there from. ---james stephenson Joint stock company:
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