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प्रश्न
Answer in brief.
State any four features of Sole Trading Concern.
उत्तर
The features of sole trading concern are:
- Suitable for some Special Business: Sole trading concern is suitable for business where personal attention and individual skill are needed e.g., Beauty parlour, groceries, fashion designing, sweet shops, tailoring, restaurants, etc.
- Unlimited Liability: The liability of the sole trader is unlimited. In case business assets are not sufficient to meet business expenses, the private property of the sole trader will be used. There is no difference made between private property and business property of the sole trader.
- No Sharing of Profits and Risks: A sole trader enjoys all the profits of the business. As he is the single owner of the business he assumes full responsibility in business. He alone bears all the losses or risks involved in the business.
- Business Secrecy: Maximum business secrecy can be maintained in a sole trading concern. A sole trader is responsible only to himself. He need not discuss any matter of business with outsiders. Moreover, there is no legal compulsion for sole traders to publish books of accounts of the business.
- Local Market Operations: A sole trader has limited capital and limited managerial skills, which forces him to operate in the local market only.
APPEARS IN
संबंधित प्रश्न
State True or False:
Sole trader is the decision-maker of the business.
State True or False:
Sole trading concern operates in local markets.
State True or False:
Sole proprietorship is useful for small business.
Complete the sentence.
There is only one owner in _____________
Select the correct option:
| A | B |
| Forms of business organisation | ______________ |
Select the correct option:
| A | B |
| Minimum 2 and maximum 50 | ______________ |
Answer in one sentence.
What is sole Trading concern?
Correct the underlined word and rewrite the following sentence.
There is less secrecy in Sole Trading concern.
Explain the following term/concept:
Sole Trading Concern.
Distinguish between.
Sole Trading Concern and Partnership Firm.
Justify the following statement.
Liability of a ‘Sole trader’ is Unlimited.
Justify the following statement.
Sole proprietorship is useful for small business.
Attempt the following:
Explain the features of Sole Trading Concern.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
