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Question
What is a sole proprietorship?
Short Answer
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Solution
The first and the oldest form of ownership structure is the sole proprietorship. It is the oldest, most shared, and simplest, and in some cases, the most natural form of ownership. Thus, a sole proprietorship is a form of business that is owned, managed, and controlled by an individual. It is a “one-man show”.
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Chapter 2: Ownership Structures - Sole Proprietorship and Joint Hindu Family Business - EXERCISES [Page 31]
