Question

Which of the following is NOT a form of organisation to initiate a business/enterprise?

• A. Partner Organisation
• B. Sole Proprietorship
• C. Private Limited Company
• D. Live and License

Answer 1

The Correct Option is D

To solve the question, we need to identify which option is NOT a recognized form of business organization for initiating a business or enterprise.

1. Partner Organisation:
   • A partnership firm is a legal form of business wherein two or more people run a business together, sharing profits and responsibilities. It is a very common and traditional form of business organization recognized by the Partnership Act in various countries. Thus, this is a valid form of business organization.
2. Sole Proprietorship:
   • This is the simplest and most common form of business, where a single individual owns and runs the business, taking full responsibility for its operations and debts. It is widely recognized as a form of business organization.
3. Private Limited Company:
   • A private limited company is a type of privately held business entity that limits the owner's liability to their shares. It has legal recognition and requires registration under the Companies Act. This is a recognized form of business organization.
4. Live and License:
   • This term does not refer to any form of business organization. It might be a misunderstanding of the term "Leave and License," which refers to a type of tenancy agreement and not a business entity. Thus, it is not a recognized business organization.

Therefore, the correct answer is Live and License, as it is NOT a form of organization to initiate a business/enterprise.