Question

Amar started a business on his own he has his father help me with the accounts and his mother helps him looking after customers in the evening Amberpet monthly salary to his father and brother and anywhere in the form of business organisation ​

Answer 1

Answer:

This form of Enterprise is called as ' Sole Propreitorship'. If it was partnership, his father and brother would have been paid with share of profits from the business. 4 features of sole proprietorship: 1) Limited Capital 2) Unlimited Liability 3) Business liquidates on the death,insolvency or insanity of the sole proprietor 4) Registration of the business is not compulsory.