Define ‘Sole proprietorship’.

4 years ago
Principle of Management

A Business unit that is owned and controlled by a single individual is known as sole trading or sole proprietorship concern. He uses his own savings for running the business. The sole trader makes all purchases and sells on his own and maintains all the accounts. He alone enjoys all the profits and bears all the losses.

Ex: A Fancy store.

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Susmita Sah
Susmita Sah
Jan 13, 2022
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