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⚡ Follow us on Instagram (Link)👇 / obc_academy FORMS OF BUSINESS ORGANISATION || Class 11 CHAPTER 2 || LEARNING OBJECTIVES After studying this chapter, you should be able to: • identify different forms of business organisation; • explain features, merits and limitations of different forms of business organisations; • distinguish between various forms of organisations; and • discuss the factors determining choice of an appropriate form of business organisation. ---------------------------------------------------------------------------------------------------------------------- 1PUC,BUSINESS STUDIES,CLASS 11,FORMS OF BUSINESS ORGANISATION,Ncrt class11,ncrt 1puc,Ncrt business studies,merits and four demerits of Sole Proprietorship,merits and four limitations of Partnership,types of Partnership,types of partners,Active Partner,Sleeping Partner,Nominal Partner,meaning of Partnership Deed?,meaning of Hindu Undivided Family business,HUF Business #Class12 #PUC #BusinessStudies #BST #Accountancy 👇Join our OBC✉️Telegram Channel: https://t.me/obcacademy4u 0:00 Introduction 1:12 Features: 1 Formation 2:13 Risk bearing 2:37 Decision making and control 3:21 Membership 4:22 Mutual agency 5:31 Balanced decision making 6:19 More funds 6:35 Sharing of risks 7:04 Secrecy 7:18 LIMITATIONS: 1 Unlimited liability 7:56 Limited resources 8:18 Possibility of conflicts 8:49 Lack of continuity Death 9:16 Lack of public confidence 9:41 Types of Partners 1. General / Active Partner 10:25 Sleeping or Dormant Partner 10:59 Secret Partner 11:26 Nominal Partner 11:53 Partner by Estoppels 12:54 Partner by holding out 15:02 Minor as a Partner 15:38 TYPES OF PARTNERSHIPS A CLASSIFICATION ON THE BASIS OF DURATION 1 Partnership at will 16:29 2 Particular partnership 17:11 B. CLASSIFICATION ON THE BASIS OF LIABILITY 1. General Partnership 17:41 2. Limited Partnership 18:39 Partnership Deed 19:48 c Duration of business. 19:53 e Profit sharing ratio of the partners 20:00 g Duties & obligations of partners. 20:09 i Method of solving dispute 20:33 The procedure for getting a firm registered is as follows: 1 Submission of application in the prescribed form to the Registrar of firms. The . . ____________________________________ ************************************** YOU CAN SUPPORT❤️ "OBC - ACADEMY" YOUTUBE CHANNEL: If you learn something from this video, or if this video is helpful, Please consider supporting❤️ "OBC - ACADEMY" YOUTUBE CHANNEL by joining our membership community on YouTube by hitting the "join" button below👇 or on the home page. For more info, check out the links below👇. / @edu-center You can also make a one time, direct contribution💰 to our bank account 🏦(details as below) 👇 A/c name: SUSHANTH KUMAR N, A/c No: 3412731470 IFSC code: KKBK0008062 Bank: KOTAK MAHINDRA BANK Branch: YESHWANTHAPURA BRANCH UPI No: 9980735839 (PhonePe, Google Pay) Please email the transfer details to [email protected] once you have made a contribution. Note: This is purely voluntary, no compulsions.😇 Thank you.❤️ Team OBC-ACADEMY