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What do you mean by business risk? Define industry and commerce? Give the meaning of forms of an organization? Give three distinctive features of business, profession and employment? What is an economic and social objective? Explain the meaning of public and private company? Give three limitations of partnership? What is cooperative society? Give four features of cooperative society? What are the basic for factors to start the business? What do you mean by business risk? Explain its causes? Define partnership as per partnership act 1932? Explain its types/ classification? What are the merits and demerits of sole Proprietorship?
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