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What is a Partnership Firm?

Meaning of Partnership Firm: A partnership firm is created when two or more persons unite together and pool resources to establish a business. The name under which their business is carried on is referred to as the “Firm Name.” Individual…

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Concept of Sole Proprietorship

What is Sole Proprietorship? A sole proprietorship also referred to as a sole trader or a proprietorship is an unincorporated business with one owner. So such a firm is a one-person operation. “Sole” means only and “proprietor” refers to the…

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Concept of One Person Company

One Person Company (OPC) in India introduced through the Companies Act, 2013 support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.  It is a step forward to facilitate more business…

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What Is Statutory Audit? 

Meaning of a Statutory Audit: Statutory Audit means a type of audit mandated by the law or a statute to make sure that the book of accounts is true and fair which is presented to the public and regulators. A…

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