Question

explain sole proprietorship with its features class 11 th

Answer 1

$\huge\tt\red{Q}\tt\pink{U}\tt\blue{E}\tt\green{S}\tt\purple{T}\tt\orange{I}\tt\orange{O}\huge\tt\red{N}$

Explain sole proprietorship with its features

$\huge\tt\red{❥}\tt\pink{A}\tt\blue{N}\tt\green{S}\tt\purple{W}\tt\orange{E}\tt\orange{R}\huge\tt\purple{᭄}$

A business that legally has no separate existence from its owner. Income and losses are taxed on the individual's personal income tax return. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity.Sole proprietorships have several advantages over other business entities. They are easy to form, and the owners enjoy sole control of the business profits. However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.In the sole proprietorship business, the sole owner has unlimited liability. In this case, the owner is himself liable to pay all the liabilities. ... Hence, he is personally liable for all the debt which can be recovered by his personal estate when funds are insufficient.

Hope it helps u

Mark me as brainliest

Naura✿ᴳᴵᴿᴸ࿐

Answer 2

Answer:

A business that legally has no separate existence from its owner. Income and losses are taxed on the individual's personal income tax return. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity.Sole proprietorships have several advantages over other business entities. They are easy to form, and the owners enjoy sole control of the business profits. However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.In the sole proprietorship business, the sole owner has unlimited liability. In this case, the owner is himself liable to pay all the liabilities. ... Hence, he is personally liable for all the debt which can be recovered by his personal estate when funds are insufficient.

Hope it helps u

Mark me as brainliest