Mr . Aman wants to set up a business organisation . He has two main expectations from the business organisation - (i) Limited Liability and (ii) Continuity .
What form of business organisation is suitable for Mr. Aman ? Give reasons in support of your answer .

You are a business consultant . Mr . Madanpal has recently retired from government service . He is 60 years old and he wants to set up a factory to manufacture plastic goods . He has come to consult you so that you may suggest to him the most suitable form of business organisation . The following are his main expectations from the business organisation . (i) Ease in formation, (ii) Flexibility in operations, (iii) Sharing of profits with limited persons and (iv) Sufficient persons to look after various business activities . Which form of business organisation will you suggest to Mr. Madanpal ? Give reason in support of your answer .

Radhika Priya Dasi opened a boutique along with four workers . No problem of any type was faced in opening the boutique . At her boutique special dresses made for marriages and parties are sold . Despite there being a lot of competition in the market , the boutique was earning a good profit . Since all the profit went into her pocket , Radhika Priya Dasi was increased from 4 to 6 by her . All of them were happy since the business was running successfully . Unfortunately , one day the boutique caught fire due to a short circuit . Consequently , Radhika Priya Dasi had to suffer a heavy loss . The circumstances deteriorated so much that she had to dispose off her personal properties to repay the boutique's debts. In order to revive the boutique, she approached a bank which did not extend a long-term loan to her . (a) Identify the form of business organisation discussed in the above para . (b) Explain any three merits of the form of business organisation identified in (a) by quoting the lines from the above para . (c) Also explain any two limitations of the form of business organisation identified in (a) by quoting the lines from the above para .

Mr. Mukul Gupta contracted with a firm . According to the contract , he has advanced a loan of ₹ 20 lakh to the firm and in exchange he got the power to take a few decisions regarding the firm's business . Is Mr. Mukul Gupta a partner of the firm ? Give reaons in support of your answer .

Shalini, after acquiring a degree in Hotel Mangement and Business Administation took over her family food processing company of manufacturing pickles,jams and squashes. The business was established by her great grandmother and was doing reasonably well. However the fixed operating costs of the business were high and the cash flow position was weak. She wanted to undertake modernisation of the existing business to indroduce the latest manufacturing processes and diversify into the market of chocolates and candites. she was very enthusiatic and approached a finance consultant, and expansion programme. He also informed her that the stock market was going thorugh a bullish phase. (a) Keeping the above considerations in mind, name the source of finace Shalini should not choose for financing the modernisation and expansion of her food processing business. Give one reason in support of your answer. (b) Explain any too other facotrs, apart from those staed in the above situation, which Shalini should keep in mind while taking this decision.