Question

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.

Options

• True

• False

Answer 1

This statement is true.

1. A sole trader operates in a local market. He deals in goods that are local in nature.
2. Therefore, he finds it easier to manage with limited capital and ability.
3. Thus, a sole Trading Concern is convenient and suitable when the market of goods is local.