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(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.
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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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From Business Organization
MOA is important because it is the charter that defines the company’s objectives and powers. It sets the scope of activities and protects investors and creditors by informing them what the company can do. Any act beyond MOA is generally ultra vires and not binding on the company. Hence MOA provides legal framework and clarity of company’s purpose.
Companies may be classified by liability as company limited by shares, company limited by guarantee and unlimited company. They can also be classified by access to capital/number of members as private company (restricts share transfer and cannot invite public) and public company (can invite public subscription and shares are generally transferable). Other classifications include holding/subsidiary and government company.
Memorandum of Association (MOA): MOA is the charter of the company. It defines the company’s objectives and scope of powers and governs the company’s relationship with the outside world. It includes important clauses such as name clause, registered office clause, object clause, liability clause, capital clause and subscription clause. Any act beyond MOA is generally ultra vires.
Articles of Association (AOA): AOA is the internal rule book of the company. It lays down regulations for internal management, such as share issue and transfer, calls and forfeiture, meetings and voting, appointment and powers of directors, dividends, accounts and audit.
Differences between MOA and AOA:
Thus, MOA sets the boundaries of company’s activities and AOA provides rules for working within those boundaries.