BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a sole proprietorship or a sole trader
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an unlimited personal liability company
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a sole partnership
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a sole limited liability company
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Detailed explanation-1: -A sole proprietorship is an unincorporated business that one person owns and manages. As the business and the owner are not legally separate, it is the simplest form of business structure. It is also known as individual entrepreneurship, sole trader, or simply proprietorship.
Detailed explanation-2: -A sole proprietorship is a business that is owned and operated by a natural person (individual). This is the simplest form of business entity. The sole proprietorship is not a legal entity. The business has no existence separate from the owner who is called the proprietor.
Detailed explanation-3: -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.
Detailed explanation-4: -A sole trader (also known as a sole proprietor or sole proprietorship) is an unincorporated business structure, and one of the simplest ways to start a business. In a sole proprietorship, one individual runs and owns the entire company.
Detailed explanation-5: -A sole proprietor is an individual owner of a business. Sole proprietorships, therefore, are businesses that have one clear, distinct owner. This is in contrast to partnerships, which can have many different owners.