discuss whether the sole proprietorship involves a lengthy and expensive procedures for its formation?
Answers
Explanation:
under sole proprietorship, it involves only one person I.e. a single man is starting its own business. it's formation is very easy as registration is is not required.
also under this less capital is invested
it is usually suitable for small businesses.
it's not costly but the sole proprietor has to bear all the liabilities himself
Answer: Sole Propritorship refers to that form of business organisation which is owned by a single individual , who is solely responsible for its management and receives all profits and losses.
Explanation:@.It is owned by single individual , which means that he is thw sole owner of all assets and resources of business.
@.owner performs the functions of managment.
@.He receives all profit and bear s all losses.
@.there is secrecy in sole propriotership.
@.Freedom for selection of business.