NCERT Solutions for Class 11 Business_Studies Chapter 2 Forms of Business Organisation

The Indian Partnership Act, 1932 govern the partnership form of business organization. It comes into existence through a legal agreement wherein the terms and conditions governing the relationship among the partners, sharing of profits and losses and the manner of conducting the business is specified. Forms of Business Organisation is one of the significant chapters to be learnt by the students. In this chapter, students can learn – what is a sole proprietorship, its features, merits and demerits, Meaning of Joint Hindu Family Business, its characteristics, advantages and disadvantages, Partnership – its characteristic features, merits and limitations, Types of partners and partnership. The most crucial aspect to be concentrated in this chapter is what Partnership Deed is? Registration of a partnership firm, Joint-stock Company, types of companies, forms of business organizations.