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Rocket 356: Today there are different types of business organisations in world like
1. Sole Proprietorship firm
2. Partnership Firm
These firm's are nor suitable for large scale business because they have certain disadvantages like:
1. Limited Resources
2. Limited Managerial Skills
3. Unlimited Liability i.e the accountability rests totally on the owners's shoulders
4. The organisation's depend on the life and stability of the proprietor
Large scale businesses require
1. Large amount of resources
2. Specialised managerial skills
3. Limited liability, i.e this is useful for Owner's of the companies because any loss incurred by the company will be distributed among shareholders
4. There is no effect on the working of the organisation even if all the members of the company die
These requirement's are met in a company form of organisation. After a firm register's itself as a company form of organisation it can freely sell its shares to 50 people in case of a private limited company and to any number of people in case of a public limited company.
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What else can I help you with?
What if company does not provide form 16?
You can contact your regional Income Tax Office and raise a formal complaint. Every organization that pays a salary and deducts TDS is supposed to provide the Form 16 to its employees. However, if the company does not deduct TDS, they will only give you a Salary Certificate explaining the salary you earned.
What Is Meant by the Term Inventory in a organization?
The term \"inventory\" in an organization is the count of product or items. It helps keep track of items going in and out of a particular place.
Income statement of manufacturing organization?
Income statement of manufacturing organization is same as for trading company with little difference in manufacturing company there is separate manufacturing account is also prepared.
What is the full form of FAO?
The full form of FAO is Food and Agriculture Organization
What is a 1096 form for?
A 1096 form can only be used by an organization that is filing tax-exempt. This means that the organization did not pay in any taxes at all throughout the tax year.
What is meant by organization structure?
What is meant by organization structure
What is a sole proprietorship company?
A form of business organization in which an individual owns the entire enterprise
What is the least expensive form of business organization?
Limited liability company which has single director
Is company a sole proprietorship?
A form of business organization in which an individual owns the entire enterprise
What is meant by hr on what his work deals with?
HR refers to human resources within an organization. The human resource department of any company typically attracts, recruits and hires employees for the organization.
What is meant by the term organization culture?
What is meant by the term organisation culture
What does COM means?
As in the internet? Com= company, Org = Organization, Net = Network
What is the types of business that is the easiest to form?
The easiest form of business organization to start and stop is the limited liability company. sole proprietorship. corporation. partnership.
What do you mean by HRD climate?
HRD stands for Human Resources Development in a business or an organization. Climate meant the atmosphere in the company, especially a supportive atmosphere that allows staff members to develop their skills for the benefit of the company.
Why is org.com used on website?
.org is used when the company using that domain identifies as some form of an "organization" non profit or not
What is transnational organization structure?
The transnational organizational structure can take the form of separate international entities, as with a multi-national corporation. A company can also form satellites or branches.
How can I obtain a copy of my 1099 form?
You can obtain a copy of your 1099 form by contacting the company or organization that issued it to you. They should be able to provide you with a copy either electronically or by mail.
