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What is sole proprietorship ?

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What is sole proprietorship ?

Posted by Pratham Bansal 4 years, 3 months ago

CBSE > Class 11 > Business Studies

2 answers

Pratham Bansal 4 years, 3 months ago

Thank you

Yogita Ingle 4 years, 3 months ago

Definition of Sole Proprietorship:

It is that type of business organization which is owned, managed and controlled by a single owner.
The word “sole” means “only” and “proprietor” notes to “owner”.
A sole proprietor is the beneficiary of all profits.
All risks are to be borne by the sole proprietor.
The sole proprietor has unconditional and full control over its business.
Example: Beauty parlour, barbershop, general store and sweet shop run by a single owner.

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