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प्रश्न
What do you understand by a sole proprietorship firm?
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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.
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संबंधित प्रश्न
Features of sole trading concern.
‘One man show’ type of business organization.
Define Sole Trading Concern ?
‘One man show’ type of business organization.
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 sole proprietorship has ________ owner/owners.
Select the proper option from the options given below and rewrite the completed sentence.
A proprietor has ________ liability.
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)
The liability of a sole trader is unlimited.
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 structure in which there is a separation of ownership and management is called
The board of directors of a joint-stock company is elected by ______.
The Head of the joint Hindu family business is called
A partner whose association with the firm is unknown to the general public is called
Define the following business entities:
Sole Proprietorship
