BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The simplest and oldest form of business organization is the sole proprietorship. The sole proprietorship has only one owner. The sole proprietor and his business are one and the same. The sole proprietorship is a very common form of business organization.

Detailed explanation-2: -Sole proprietorship is the simplest and the oldest form of business under which an individual is able to conduct business. It does not need to be registered or incorporated. Therefore, it is not considered as a legal entity.

Detailed explanation-3: -Joint Hindu family business is a specific form of business organisation found only in India. It is one of the oldest forms of business organisation in the country.

Detailed explanation-4: -Sole proprietorship is considered to be the simplest form of organisation. There is one person who owns and manages the business. Q. Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation.

Detailed explanation-5: -The oldest type of organization is a line organization. Line organization structure is the oldest and simplest form of organization. In these organizations, a supervisor exercises direct supervision over a subordinate. Also, authority flows from the top-most person in the organization to the person in the lowest rung.