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Question
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
Options
unlimited
limited
restricted
MCQ
Solution
A proprietorship has unlimited liability.
Explanation:
Under unlimited liability, if the owner fails to pay the debts of the business, then his/her personal property can be utilised to pay the debt. This implies that there is no difference between the property of the owner and the business. The term “unlimited liability” pertains specifically to a sole proprietorship, as the proprietor is solely liable for the debts incurred by the business.
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Concept of Sole Proprietorship Or Sole Trader
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Features of sole trading concern.
Distinguish between Proprietorship and Joint Hindu Family Firm
A sole trading concern ensures ______________ business secrecy.
Functions of Lower Level Management.
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
Write a word or a phrase or a term which can substitute the following.
An artificial person created by law.
Write short notes on the following.
Features of a proprietorship
Write short note on the following.
Features of partnership firm.
State Whether the Following Statement Are True Or False (Give Reason)
A sole trader has weak bargaining power.
State Whether the Following Statement Are True Or False (Give Reason)
Business secrecy cannot be maintained in a Sole Trading Concern.
State Whether the Following Statement Are True Or False (Give Reason)
The liability of a sole trader is unlimited.
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Why?
The Karta in Joint Hindu family business has
The capital of a company is divided into a number of parts each one of which is called
Define sole proprietorship.
Define the following business entities:
Sole Proprietorship
