BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one does not belong to the features of company
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Body Corporate
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Legal Person
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Perpetual Succession
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Sole Ownership
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Explanation:
Detailed explanation-1: -In case of proprietorship, owner and business both are same as the proprietor is only the sole owner of the business. Hence separate legal entity concept does not applies in the proprietorship business.
Detailed explanation-2: -Answer: The correct answer is Limited Liability.
Detailed explanation-3: -Features of Sole Proprietorship – 6 Main Features: Ownership, Control, Life of Business, Unlimited Risk, Unlimited Liability and Freedom.
There is 1 question to complete.