“Business may be owned by an individual or a group of persons.” In the light of the above statement enlist different forms of business organizations and explain how they are different from each other
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business own by one person is called a sole trader or sole proprietorship. these business is own and operated by one person, these business are financed by personal savings or loan from a bank. sole trader business are also called unincorporated Business, which hve unlimited liability, that is their personal possessions can be sold to cover the dept of the company.
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