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Question
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship has ________ owner/owners.
Options
one
two
unlimited
Solution
A sole proprietorship has one owner.
Explanation:
Sole means one and proprietor means owner. Therefore, a sole proprietorship is the one which is controlled and managed by only one or single owner.
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RELATED QUESTIONS
| Group'A' | Group 'B' | ||
| a | Sole trader | 1 | Insurable interest |
| b | Life insurance | 2 | Branch of Social Science |
| c | Business ethics | 3 | Local market |
| d | Henry Fayol | 4 | Father of scientific management |
| e |
Planning |
5 | Principle of indemnity |
| 6 | Father of modern management | ||
| 7 | Primary function of management | ||
| 8 | To earn profit | ||
| 9 | Last function of management | ||
| 10 | National market |
Features of sole trading concern.
‘One man show’ type of business organization.
‘One man show’ type of business organization.
A sole trading concern ensures ______________ business secrecy.
Sole Trading Concern and Partnership Firm
Match the pairs :
|
Group 'A' |
Group 'B' |
||
| (a) | Sole trader | (1) | Compensation upto Rs 20 lacs |
| (b) | Globalisation | (2) | Minimum two members |
| (c) | District Forum | (3) | Dr. Deming |
| (d) | Private company | (4) | Regional market |
| (e) | Total Quality Management | (5) | F. W. Taylor |
| (6) | Minimum seven members | ||
| (7) | Maximum secrecy | ||
| (8) | Compensation more than Rs 20 lacs | ||
| (9) | International market | ||
| (10) | Minimum secrecy | ||
Functions of Lower Level Management.
Sole Trading Concern and Partnership
Select the proper option from the options given below and rewrite the completed sentence.
A sole proprietorship is the ________ form of organization.
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 Is True Or False (Give Reason).
A sole trader can take prompt decisions and quick actions.
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Why?
Kiran is a sole proprietor. Over the past decade, her business has grown from operating a neighbourhood corner shop selling accessories such as artificial jewellery, bags, hair clips and nail art to a retail chain with three branches in the city. Although she looks after the varied functions in all the branches, she is wondering whether she should form a company to better manage the business. She also has plans to open branches countrywide.
(a) Explain two benefits of remaining a sole proprietor
(b) Explain two benefits of converting to a joint stock company
(c) What role will her decision to go nationwide play in her choice of form of the organisation?
(d) What legal formalities will she have to undergo to operate business as a company?
The Karta in Joint Hindu family business has
The board of directors of a joint-stock company is elected by
The capital of a company is divided into a number of parts each one of which is called
The Head of the joint Hindu family business is called
