3 Most VSAQ’s of Sole Proprietorship, Joint Hindu Family Business & Cooperative Societies Chapter in Inter 1st Year Commerce (TS/AP)

2 Marks

VSAQ-1 : Define Sole Proprietorship. (OR) What is Sole Proprietorship?

Sole Proprietorship is a business structure characterized by a single individual who solely owns, manages, and assumes all responsibilities and risks associated with the business.

VSAQ-2 : Define Dayabhaga.

Dayabhaga is a school of Hindu law primarily observed in West Bengal and Assam, India. Under the Dayabhaga system, family members are entitled to inherit their father’s property only after his death. While the father is alive, no one has the right to manage or dispose of the property.

VSAQ-3 : What is Business Organization?

Business organization encompasses the systematic coordination and allocation of resources to implement specific operating policies. It includes concerns, companies, or enterprises that engage in buying and selling goods and services, either owned by an individual or a group.