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Question 1. Asked on :23 August 2020:01:14:28 PM

 what are the possess of sole proprietorship?

-Added by Jyoti Srivastva Business Study » Forms Of Business Organizations

Answer:

Jyoti Srivastva

It possess the following charactersitics:

(i) Single ownerful: It is run by single individual who owns and controls all assets of the properties of the business and bears all risks.

(ii) Individual Capital Contribution: Capital is arrangedby sole proprietor himself either from personal resonrces or through borrowing .

(iii) Individual Managementand Contorl: All business decisions are taken by sole prorietor himself.

(iv) No Sharing of Profiit and Loss: Entire profit arising out of business is enjoyed by sole proprietor himship.Similarly ,he himship has to bear all the business losses.

(v) Unlimited liability: In case of any loss ,sole proprietor's personal property can be used to pay off all the liabilities.

-Answered by Jyoti Srivastva On 23 August 2020:01:30:30 PM(20227Average Rating Based on rating)

 

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