BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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.

Detailed explanation-2: -You’re automatically considered to be a sole proprietorship if you do business activities but don’t register as any other kind of business. Sole proprietorships do not produce a separate business entity. This means your business assets and liabilities are not separate from your personal assets and liabilities.

Detailed explanation-3: -A Sole proprietorship is an enterprise owned exclusively by one natural person and in which there is no legal distinction between the owner and the business entity. The entrepreneur exercises his activity without having created a distinct legal person.

Detailed explanation-4: -A sole proprietor is a person who has complete control over the revenue and operations of a business. In addition to taking home all profits, the sole proprietor is also responsible for all debts, lawsuits, and taxes their company accrues.

Detailed explanation-5: -Sole proprietors own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts.