11th Class Business Studies Forms Of Business Organisation Question Bank Forms Of Business Organisation (Short)

  • question_answer
    Define promoter. What are the functions of a promoter?


    Ans.     A promoter is a person who conceives the new idea of starting a business, examines the feasibility of idea, assemble various resources, prepare necessary documents and perform other activities needed to commence the business.
    Functions of a promoter:
    1. Identification of business opportunity;
    2. Feasibility studies: the following feasibility studies may be undertaken:
    (a) technical feasibility: (b) financial feasibility (c) economic feasibility
    3. Name approval;
    4. Fixing up signatories to the Memorandum of Association;
    5. Appointment of professionals;
    6. Preparation of necessary documents.

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