Cheat sheet · Class 11 · CBSE · Commerce Business Studies
Forms of Business Organisation cheat sheet
The whole chapter on one page: key formulas, facts and the points to remember, for quick revision before a test.
CBSE Class 11 · Business Studies
Cheat sheet
Chapter 2Forms of Business Organisation
Sole → Partnership → Company: more capital, more members, more regulation.
1. Comparison
| Feature | Sole proprietor | Partnership | Company |
|---|---|---|---|
| Members | 1 | 2 to 50 | private 2–200; public 7+ (min) |
| Liability | unlimited | unlimited (jointly) | limited |
| Separate entity | no | no | yes |
| Continuity | ends with owner | unstable | perpetual succession |
| Governing law | none specific | Partnership Act 1932 | Companies Act 2013 |
2. Partnership
- Partners: active, sleeping, secret, nominal, partner by estoppel, minor (benefits only).
- Types: general, limited (LLP), at will, particular partnership.
- Partnership deed: name, capital, profit ratio, interest, duties.
3. Others
Joint Hindu Family business
karta manages; membership by birth; governed by Hindu law.
Cooperative society
voluntary, democratic (one member one vote); service motive.
4. Company
- Artificial person, common seal (optional now).
- One Person Company (OPC) allowed.
- Private: restricted share transfer; public: freely transferable.
5. Key Points
- Choice depends on cost, liability, continuity, capital, control.
- Registration of partnership is optional.
- Cooperatives: consumer, producer, marketing, credit, housing, farming.
- Company formation needs a lot of legal formalities.
Remember: Comparison table | partner types | coop & HUF
Forms of Business Organisation: questions and notes
More Class 11 · CBSE · Commerce Business Studies cheat sheets
Practise Forms of Business Organisation
Sign up free to practise the full chapter. Questions you get wrong come back until you've mastered them.
Start practising freeFree to start · No credit card needed