This article will help you to learn about the difference between trade, commerce and industry. Difference Between Trade, Commerce and Industry Trade 1. Trade is that branch of commerce which deals with exchange or transfer of goods and services. 2. The origin and development of trade is the result of the prevalence of barter system. 3. It includes sale and [...]
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 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 [...]