Day: February 24, 2022

Under centralized purchasing, purchases are made at one central point for the whole organisation and material is issued to respective departments or jobs as and when needed. Centralized purchasing is suitable in cases where the organisation runs one plant. It Read More …

A business owned by the government and run by Directors appointed by the government. These businesses usually include the water supply, electricity supply, etc. The government gives the directors a set of objectives that they will have to follow: To Read More …

A cooperative is a business organization owned by a group of individuals and is operated for their mutual benefit. The persons making up the group are called members. Cooperatives may be incorporated or unincorporated. Some examples of cooperatives are: water Read More …

Public limited companies are similar to private limited companies, but they are able to sell shares to the public. A private limited company can be converted into a public limited company by: 1. A statement in the Memorandum of Association Read More …

Private Limited Companies have separate legal identities to their owners, and thus their owners have limited liability. The company has continuity, and can sell shares to friends or family, although with the consent of all shareholders. This business can now Read More …

A partnership is a business owned by two or more persons who contribute resources into the entity. The partners divide the profits of the business among themselves. There are different types of partnerships—general partnership, limited partnership, and limited liability partnership—the Read More …