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Question
Which form of business ownership is represented in the image?
Options
Joint Hindu Family Business
Partnership
Sole Proprietorship
Public Limited Company
MCQ
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Solution
Sole Proprietorship
Explanation:
A sole proprietorship is owned and controlled by one person, featuring single ownership, no sharing of profit and loss, one person’s capital, unlimited liability, fewer legal formalities, and one-man control. The sole proprietor alone makes decisions, bears unlimited liability, and enjoys quick decision-making and independent control, which aligns with the characteristics shown in the image.
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