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Question
Explain the following term/concept:
Sole Trading Concern.
Solution
- It is a form of business organization which is owned, managed, and controlled by one person.
- It need not be registered.
- It does not have a legal status i.e. It does not have a stable life.
- Maximum secrecy can be maintained in Sole Trading's concern.
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RELATED QUESTIONS
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?
Distinguish between.
Sole Trading Concern and Partnership Firm.
Answer in brief.
State any four features of Sole Trading Concern.
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.
