Organisation of Commerce and Management · Class 11 Commerce
Ch 5Forms of Business Organisation – II — Class 11 Organisation of Commerce and Management, concept-first.
The companion chapter, Forms of Business Organisation – I, covered the three NON-CORPORATE forms a business can take — Sole Proprietorship, Partnership, and Joint Hindu Family Business — where the business and the owner(s) are, in the eyes of the law, essentially the same person(s).
Key concepts
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Co-operative Society — Meaning and Principles
A Co-operative Society is a voluntary association registered under the relevant Co-operative Societies Act, formed by persons of similar economic background to serve their common economic interests through mutual help ra…
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Overview
The companion chapter, Forms of Business Organisation – I, covered the three NON-CORPORATE forms a business can take — Sole Proprietorship, Partnership, and Joint Hindu Family Business — where the bus…
Co-operative Society — Meaning, Principles and Features
A Co-operative Society is a voluntary association of persons, generally belonging to a similar economic background, who join together not primarily to earn profit for its own sake but to protect and p…
Co-operative Society — Types, Merits, Limitations and Suitability
Types of Co-operative Societies (classified by the service they provide to members):
Joint Stock Company — Meaning and Features
A Joint Stock Company is an artificial person, created by law, having a separate legal entity distinct from its members, with perpetual succession and a common seal, and generally with limited liabili…
Private Company and Public Company
Under the Companies Act, 2013, a Joint Stock Company is classified — based on the number and nature of its members and how freely its shares change hands — into two principal types: the Private Compan…
Joint Stock Company — Merits and Limitations
Merits of a Joint Stock Company:
Other Institutional Forms — A Brief Note
Beyond the Co-operative Society and the Joint Stock Company, a student should be briefly aware of two further institutional categories at this level (this note is deliberately kept short — neither is…
Comparing the Institutional Forms
Co-operative Society vs. Joint Stock Company:
Exercises
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- Q1State whether the following statement is True or False, with a reason: "In a Co-operative Society, a member holding more shares gets more vo…Free
- Q2Name the type of Co-operative Society formed by farmers to collectively sell their produce at better prices, and briefly explain how it bene…Free
- Q3Who registers a Co-operative Society, and what document must accompany the application for registration?Free
- Q4State any three limitations of the Co-operative form of business organisation.Preview
- Q5Define a Joint Stock Company and state the Act under which it is registered.Preview
- Q6Explain the meaning of 'perpetual succession' as a feature of a Joint Stock Company, with a suitable example.Preview
- Q7Distinguish between a Private Company and a Public Company on any four points.Preview
- Q8"A Joint Stock Company must maintain a statutory minimum paid-up capital of ₹1,00,000 (private) / ₹5,00,000 (public) at all times." Is this…Preview
- Q9State any three merits and any two limitations of the Joint Stock Company form of organisation.Preview
- Q10What is a Government Company? Explain briefly with reference to the legal minimum government shareholding required.Preview
- Q11Distinguish between a Co-operative Society and a Joint Stock Company on any four points.Preview
- Q12"A Co-operative Society and a Joint Stock Company are both examples of a separate legal entity, but a Sole Proprietorship is not." Explain t…Preview