Question

Abdul is the sole owner of a shoe manufacturing factory . it expands and grows but now it faces the problem of limited financial and managerial resources . (a) Name the form of organization on which is being carried out by Abdul. (b) Give two alternative to solve the problem .


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Answer 1

Answer:

Explanation:

(i)- Sole proprietorship-The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

(ii) Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company.

Answer 2

Answer:

I) sole proprietorship

ii) employ a paid assistant

admit one or more partners