What are the advantages and limitations | Class 11 Business Studies Chapter Forms of Business Organisation, Forms of Business Organisation NCERT Solutions
Question: What are the advantages and limitations of a Partnership as a form of business organization?
Answer:
- Advantages:
- Shared Responsibilities: Tasks and responsibilities are distributed among partners.
- Combined Resources: Partners contribute financial and managerial resources, enhancing business potential.
- Flexibility: Less regulatory compliance compared to companies allows operational flexibility.
- Limitations:
- Unlimited Liability: Partners are personally liable for debts, which poses significant risks.
- Conflicts: Decision-making differences may lead to disputes among partners.
- Limited Growth: Partnerships face constraints in raising large amounts of capital.
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Study Tips for Answering NCERT Questions:
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
- Read the question carefully and focus on the core concept being asked.
- Reference examples and data from the chapter when answering questions about Forms of Business Organisation.
- Review previous year question papers to get an idea of how such questions may be framed in exams.
- Practice answering questions within the time limit to improve your speed and accuracy.
- Discuss your answers with your teachers or peers to get feedback and improve your understanding.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 5: What are the advantages and limitations of a Partnership as a form of business organization?....
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