MANAGEMENT

Detailed explanation-1: -Owner has absolute control over the business. Cons of a Sole Proprietorship: Owner has unlimited personal exposure to risk, as the owner is responsible for all liabilities incurred by the business. Investors typically would not invest in a business organized as a sole proprietorship.

Detailed explanation-2: -Sole proprietorships are the most common and simple form of business organization. They are formed by persons who own all or most of the business property and assets. They are 100% responsible for all of the control, liabilities and management of a business.

Detailed explanation-3: -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-4: -A sole proprietorship is best suited to small businesses with low risk and low profits.

Detailed explanation-5: -The most common business structure type is a sole proprietorship. A sole proprietorship is owned and operated by one person, a sole proprietor. A sole proprietorship is a good option if you are looking to have complete control of your business.