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Question
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.
One Line Answer
One Word/Term Answer
Solution
The owner is the sole manager and decision maker of his business- Sole proprietorship.
Explanation:
In a sole proprietorship, the business is owned and managed by one individual. This individual is solely responsible of the business and doesn’t share profits and loss with anyone.
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Concept of Sole Proprietorship Or Sole Trader
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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 |
Distinguish between Proprietorship and Joint Hindu Family Firm
Define Sole Trading Concern ?
Sole trading concern and Partnership firm .
Functions of Lower Level Management.
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
Match the correct pairs.
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
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.
The capital of a company is divided into a number of parts each one of which is called
Provision of residential accommodation to the members at reasonable rate is the objective of
A partner whose association with the firm is unknown to the general public is called
Define the following business entities:
Sole Proprietorship
