This article will help you to learn about the difference between business and profession. Difference between Business and Profession Business 1. Specialised Knowledge: No specialised knowledge is required for a business. A layman can start a business. 2. Objective: The prime objective of a business is to maximise the profit. Service motive is a secondary one. 3. Advertisement: Advertisement is [...]
This article will help you to differentiate between partnership and co-ownership. Difference between Partnership and Co-Ownership Partnership 1. Contract: Partnership is the outcome of an agreement. 2. Number of Members: In partnership, the number of members cannot exceed the maximum limit. 3. Object: The object of partnership is to carry on some lawful business and earn profits. 4. Agent: In [...]
This article will help you to learn about the difference between partnership and sole tradership. Difference between Partnership and Sole Tradership Partnership 1. Act: Partnership is formed under Indian Partnership Act, 1932. 2. Number of Members: In partnership, minimum number of members is two and maximum is 20 and 10 for banking business. 3. Secrecy: In partnership, all the partners [...]