1) The liability extending to the personal property of the sole trader is called _________________.
2) The degree of freedom of flexibility is large in case of ________________ form of organization.
3) Rate of taxation is ___________________ in case of Sole trader form of organization.
4) The relationship between the persons who agree to share the profits or losses of the business is called ______________.
5) The partners have _____________ and _____________ liability.
6) The minimum number of members in case of partnership is ___________ and maximum is ______________.
7) The partners are collectively called as _______________.
8) Every partner is both a principal and an agent. This relationship is called ____________________.
9) The closure of partnership is called ____________________.
10) The partner, who gives an impression that he is a partner of the firm and becomes liable for the claims, is called ___________.
11) A __________________ partner can be admitted to the benefits of the firm.
12) A partner has an authority to raise loans against the properties of the firm. Such authority is termed as ____________.
13) A partner neither contributes to capital nor takes part in the affairs of business and is there for namesake is ______________ partner.
14) A partner who contributes to the capital but does not take active part in the management of its affairs is called _____________ partner.
15) As per the Indian Partnership Act, 1932 registration of firm is not compulsory but the unregistered firm cannot ______________.
16) An artificial person created by law with perpetual succession and common seal is called ______________.
17) The limited liability means that the liability is limited to the _________________ value of the shares held by the shareholder.
18) The shares of a _____________ company cannot be transferred.
19) Only such documents affixed by ___________________ bind the company legally.
20) A private company should add the words _______________ at the end of its name.