Question

Define Sole proprietorship and partnership with 5 examples

Answer 1

Answer:

sole proprietorship refers to a form of business organisation which is owned,managed and controlled by an individual,who is the recipient of all profits and bearer of all risks

example:a single person,an art studio,a owner of grocery shop,bakers and chefs and direct sellers

partnership partnership is an association of two or more person who agree to jointly pursue a business activity.

example:Red Bull and GoPro

Spotify and Uber

Levi’s & Pinterest

Maruti Suzuki

Maruti Suzukihindustan petroleum