What is the difference between a Proprietor firm, a
Partnership firm & a limited company
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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 |
If a company is in loss, should it require to pay salary to their employees. If yes, how?
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