Advertisements
Advertisements
प्रश्न
What do you understand by a sole proprietorship firm?
संक्षेप में उत्तर
Advertisements
उत्तर
In a sole proprietorship form of business, the business is owned, managed and controlled by a single individual who is known as the sole proprietor. As the sole owner of the business, the proprietor becomes the single recipient of all the profits earned by the business and, in the same way, has to bear all losses.
shaalaa.com
Concept of Sole Proprietorship Or Sole Trader
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
APPEARS IN
संबंधित प्रश्न
Features of sole trading concern.
Distinguish between Proprietorship and Joint Hindu Family Firm.
‘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 | ||
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.
Write a word or a phrase or a term which can substitute the following.
An artificial person created by law.
State Whether the Following Statement Is True Or False (Give Reason).
A sole trader can take prompt decisions and quick actions.
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.
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 board of directors of a joint-stock company is elected by ______.
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
