Distinguish between the following: Sole Trading Concern and Partnership Firm

1. It is a form of business organization which is owned, managed and controlled by one person.  2. It need not be registered.  3. It does not have a legal status i.e....

Co-operative Society

Limited Liability Partnership

Group A Group B (i) Apana Bazar Consumer Cooperatives (ii) ) Karta takes utmost care of business in a Joint Hindu Family Firm (iii) Partnership formed for 6 months Partnership for a fixed period (iv) Secret partner is not...

Group A Group B (i) Private Company Minimum 2 directors (ii) Sole Trading Concern Beauty parlour (iii) Principal-Agent relationship Partnership Firm (iv) Tax Concession Co-operative Societies (v)  Joint Hindu Family Business Partition of business

Group A Group B (i) Public Company Minimum 7 members (ii) Private Company Minimum paid up capital Rs 1,00,000 (iii) Owned and controlled by one person Sole Trading Concern (iv) Registration Compulsory in Maharashtra Partnership firm (v) Co-operative societies Democratic Management

The partnership business has more capital as compared to Sole Trading concern.