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प्रश्न
What do you understand by a sole proprietorship firm?
थोडक्यात उत्तर
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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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Concept of Sole Proprietorship Or Sole Trader
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
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संबंधित प्रश्न
| 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 |
‘One man show’ type of business organization.
A sole trading concern ensures ______________ business secrecy.
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.
Distinguish between the following.
Sole Trading concern and partnership firm.
Write short note on the following.
Features of partnership firm.
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)
Sole Trading Concern is convenient and suitable when the market of goods is local.
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?
In a cooperative society, the principle followed is
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
