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प्रश्न
Define the following business entities:
Sole Proprietorship
उत्तर
- A sole proprietorship, also known as a solo tradership, individual entrepreneurship, or proprietorship, is a type of business owned and controlled by one person who is the sole recipient of all earnings or losses and is solely responsible for all risks.
- The only owner is personally liable indefinitely.
- All activities are carried out by a single person in a sole proprietorship entity. This sort of sole proprietorship is appropriate for small-scale businesses.
- Some features of a sole trader are:
- Single ownership
- No profit sharing
- Unlimited liability
- No legal formalities to start a business
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संबंधित प्रश्न
Distinguish between Proprietorship and Joint Hindu Family Firm
Sole trading concern and Partnership firm .
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
Select the proper option from the options given below and rewrite the completed sentence.
A sole trading concern ensures ________ business secrecy.
Write a word or a phrase or a term which can substitute the following.
The owner is the sole manager and decision maker of his business.
State Whether the Following Statement Are True Or False (Give Reason)
Sole Trading Concern is convenient and suitable when the market of goods is local.
The structure in which there is a separation of ownership and management is called
The board of directors of a joint-stock company is elected by
Provision of residential accommodation to the members at reasonable rate is the objective of
A partner whose association with the firm is unknown to the general public is called
