explain features of Sole Trading Concern.
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The sole trading concern is the oldest and simplest form of a commercial organization having one owner. Sole means one person, so a sole trading concern is an organization where all the business activities are controlled and managed by one man. And he is also solely responsible for all the and risks of the firm.
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Single ownership: The sole trader is a single owner of the organization. ...
Unlimited liability: The liability of the sole trader is unlimited. ...
Minimum government control: Sole trading concern is less affected by government control. ...
Business secrecy: The sole trader can maintain complete business secrecy.
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