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Discuss the features of a Sole Proprietorship and its suitability for ...

Discuss the features of a Sole Proprieto | Class 11 Business Studies Chapter Forms of Business Organisation, Forms of Business Organisation NCERT Solutions

Question:

Discuss the features of a Sole Proprietorship and its suitability for specific types of businesses.

Answer:

Features of a sole proprietorship include:
- Ease of Formation: Minimal regulatory requirements make it easy to start.
- Full Control: The owner has complete control over decision-making.
- Unlimited Liability: The proprietor is personally liable for all business debts.
- Single Ownership: The entire profit belongs to the owner.
- Lack of Legal Distinction: The owner and the business are legally the same entity.
Suitability: This form is ideal for businesses like retail shops, small-scale trading, and service-based businesses due to its simplicity and low operational costs.

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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 4: Discuss the features of a Sole Proprietorship and its suitability for specific types of businesses.....

Discuss the features of a Sole Proprieto | Class 11 Business Studies Chapter Forms of Business Organisation, Forms of Business Organisation NCERT Solutions

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