Question

A sole proprietorship has ________ owner/owners. (Fill in the blank by choosing correct option)
a) one
b) two
c) unlimited.

Answer 1

a) one

A sole proprietorship has one owner .

Answer 2

Sole proprietorship has one owner.

Explanation:

• The sole proprietorship is the form of business which can do by the one person that person is called as sole trader.
• It is the simple type of business, it is easy to setup with low budget or nominal cost with his own money.
• All profits are enjoyed by the sole proprietor, at the same time sole proprietor bear all the losses.
• Sole proprietorship not have any legal registration like other business.
• Sole trader is the only person to make the decision of his business.