(a) A Limited Liability company is a better form of organization than the partnership, explain. (b) What is e-commerce ? Discuss its benefits and limitations.
Subject: 1.4: BUSINESS ORGANISATION & ENVIRONMENT. MODEL QUESTION PAPER 1 Total - 70 marks. SECTION- A. 1. Answer any 5 of the following questions each.
This question paper contains 4 printed pages]. 4371. Your Roll No. B.Com. / I. AS. Paper I-BUSINESS ORGANISATION AND . Describe various elements of contemporary.
The notes and questions for Business Organisation and Management - Question Paper (Unsolved), B.com have been prepared according to the B Com exam syllabus.
State the meaning, objectives and scope of business. When and how was business organization evolved? Answer any two questions out of the following three.
ECO-01 Business Organisation in English Previous Year Question Papers . Organization in English QUESTION AND ANSWER eBook. Title Name, ECO-01 Previous Question.
All questions carry equal marks. Q1. A sole proprietor wants to expand his business and requires more capital and professional expertise for such expansion.
From Business Organization
Important governance mechanisms include an effective board of directors with independent directors, strong internal controls and audit (internal and external) to ensure reliable reporting, timely disclosures and reporting to stakeholders, protection of shareholder rights through meetings and voting, and whistle-blower mechanisms to report unethical practices. These tools improve monitoring and accountability.
Business is an economic activity concerned with production and distribution of goods and services. It involves exchange and is generally carried on with profit motive as a reward for risk and initiative. Business is carried out with regularity and continuity and operates under risk and uncertainty due to changing demand, competition, prices and government policies. Modern business also focuses on customer satisfaction and social responsibility.
Business organization, an entity formed for the purpose of carrying on commercial enterprise. Such an organization is predicated on systems of law governing contract and exchange, property rights, and incorporation.
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Joint Hindu Family (HUF) business is a form of business organisation governed by Hindu law. It is owned by members of a Hindu Undivided Family and membership is acquired by birth. The business is managed by the Karta, the head of the family.
Features: HUF arises by status and does not require an agreement. Membership is by birth and the members are called coparceners. The Karta manages and controls the business and his decisions are binding. Coparceners generally have limited liability up to their share in family property, while the Karta’s liability is unlimited. HUF business enjoys continuity as it continues even after death of a member.
Merits: It provides continuity and stability. Centralised authority of Karta ensures quick decisions and effective control. Limited liability of coparceners reduces their risk. Family members generally show loyalty and cooperation which strengthens business.
Demerits: Capital is limited because it depends on family property and it is difficult to raise large funds. Karta may exercise autocratic control and there may be misuse of authority. Management talent may remain limited to family members even if they are not competent. Family disputes among members can negatively affect the business.
Thus, HUF business is suitable mainly for traditional family enterprises with moderate capital needs and strong family unity.