IGNOU BCOC 132 2026 - Explain the different forms of business ownership. Evaluate thei

Question

Explain the different forms of business ownership. Evaluate their relative merits and limitations.

12 Feb 2026

Answer :

Word Count : 318

Business ownership can take several forms, each with distinct characteristics, advantages, and limitations. The primary forms include sole proprietorship, partnership, joint-stock company, and cooperative society. A sole proprietorship is the simplest form, where a single individual owns and manages the business. Its main advantage is ease of formation and direct control over decision-making. The proprietor enjoys all profits and has complete autonomy. However, the main limitation is

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