For which of the following types of business do you think a partnership firm of organization would be more suitable, and why? |
(i) Grocery store |
(ii) Medical store |
(iii) Legal consultancy |
(iv) Craft centre |
(v) Internet café |
(vi) Chartered accountancy firm |
Answer:
Ans. For legal consultancy and chartered accountancy firm, partnership, firm will be more suitable because it has: 1. Ease of formation and closure 2. Balanced decision-making 3. More funds 4. Sharing of risks 5. Maintain secrecy
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