BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A sole proprietorship is a business owned and operated by a single person for his or her personal profit. The single owner is responsible for the business’s existence, as well as its success and profitability. The enterprise comes to an end when the proprietor becomes incapacitated or dies.

Detailed explanation-2: -A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The legal status of a sole proprietorship can be defined as follows: It is not a separate legal entity from the business owner.

Detailed explanation-3: -Sole proprietors have unlimited liability and are legally responsible for all debts against the business. Their business and personal assets are at risk. May be at a disadvantage in raising funds and are often limited to using funds from personal savings or consumer loans.

Detailed explanation-4: -Sole Proprietorship This is a business run by one individual for their own benefit. It is the simplest form of business organization. Proprietorships have no existence apart from the owners.