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1. explain sole proprietorship type of business and it's advantages

1. explain sole proprietorship type of business and it's advantages

Foundations of Business - Standalone book (MindTap Course List)
Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter4: Choosing A Form Of Business Ownership
Section: Chapter Questions
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1. explain sole proprietorship type of business and it's advantages
Transcribed Image Text:1. explain sole proprietorship type of business and it's advantages
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Concept Introduction :

Sole Proprietorship refer to the single form of business which is run by one individual. In sole proprietorship business, the debts, profit and losses are entitled to the single individual. There is ease of doing business in sole proprietorship business as not much rules and regulation are  imposed. The business owner will responsible for all the functioning and transaction of his business and he would also be the one who get affected by the risk and profit. 

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