ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Proprietor
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Chief Executive Officer
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Stock Holder
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Senior Partner
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Detailed explanation-1: -It is that type of business organization which is owned, managed and controlled by a single owner. The word “sole” means “only” and “proprietor” notes to “owner”. A sole proprietor is the beneficiary of all profits.
Detailed explanation-2: -An owner can either be a person or a legal entity that is the legal proprietor of a business. For example, a corporation (a legal entity) can be the owner of one or more companies. A sole proprietor specifically refers to the individual owner (proprietor) of a business being run as a sole proprietorship.
Detailed explanation-3: -The CEO is typically appointed by the board of directors and is the person in charge of the overall day-to-day management of a company. Owner, as a job title, is earned by sole proprietors and entrepreneurs who have total ownership of the business but do not have to be in charge of company management.