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Question
Explain the Sole Trading Concern
One Line Answer
Solution
The sole trading concern is popular not only in India but also in foreign countries also. The sole trading concern is the oldest and simplest form of the commercial organization having one owner. Sole means one person, so a sole trading concern is an organization where all the business activities are controlled and managed by one man. And he is also solely responsible for all the debts and risks of the firm.
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Merits of Sole Proprietorship Or Sole Trader
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