What is the difference between a Proprietor firm, a
Partnership firm & a limited company
Answers were Sorted based on User's Feedback
Answer / sanjay bharti
PROPRIETOR FIRM CALLED THOSE FIEM WHICH HAVE ONLY ONE
OWNERSHIP AND NOTHING INVOLVED IN THIS,ALL THE BUSINESS
INCOME AND LOSS BEAR BY THE PROPRIETOR OF FIRM.
PARTNERSHIP FIRMS WHICH HAVE MORE THAN TWO OWNERSHIP AND
ALL THE INCOME AND LOSSES DIVIDED BY THE RATIO WHICH IS
MENTION IN THE PARTNERSHIP DEED AND OTHER DOCUMENTS.
lIMITED COMPANY WHICH IS PARTIALLY UNDER THE PUBLIC AND
PARTIALY UNDERS THE GOVT BECAUSSE SHARES OF THE COMPANY IS
TAKEN BY PUBLIC AND GOVT.
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / rahul
A Proprietor firm is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business.
A partnership firm is an arrangement where individuals agree to cooperate to advance their interest. All the partners share profits or losses in their respective share in the business.
A limited company is a company in which the liability of the members of the company is limited to what they have invested or guaranteed to the company. Who may become a member of a private limited company is restricted by law and by the company's rules.
| Is This Answer Correct ? | 4 Yes | 2 No |
Does there need to be a declaration that the Trustee Investment Act 1961 has been complied with?
How to enter an invoice already paid?
what is entry for baddebts.
your parents have lent you $20,000 to buy a car and have told you to pay it back whenever you like in conceptual framework
what is the meaning of service tax?
The Analysis of flow of funds through an organization can be very useful to the managment. Elucidate
What is mean by Forex accounting
what is gross profit?
Expand AOP?
what is debentures
31 Answers eClerx, IBM, Syntel,
What is Accounting?
What is DRA in bank reconciliation.