What is a Sole Proprietorship? Explain i | Class 11 Business Studies Chapter Forms of Business Organisation, Forms of Business Organisation NCERT Solutions

Question:

What is a Sole Proprietorship? Explain its significance in small-scale businesses.

Answer:

A sole proprietorship is the simplest and most common form of business organization, where one individual owns, controls, and is responsible for the business's operations and liabilities. It is significant for small-scale businesses as it requires minimal formalities, offers direct decision-making, and allows the owner to retain all profits.

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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 1: What is a Sole Proprietorship? Explain its significance in small-scale businesses.....

What is a Sole Proprietorship? Explain i | Class 11 Business Studies Chapter Forms of Business Organisation, Forms of Business Organisation NCERT Solutions

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