Features of sole proprietorship
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Explanation:
Single ownership: A sole proprietorship is wholly owned by one individual. ...
One-man control: The proprietor alone takes all the decisions pertaining to the business. ...
No legal entity: ...
Unlimited liability: ...
No profit-sharing: ...
Small size: ...
No legal formalities:
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- One Man Ownership: In proprietorship, only one man is the owner of the enterprise.
- No Separate Business Entity: ADVERTISEMENT:
- No Separation between Ownership and Management:
- Unlimited Liability:
- All Profits or Losses to the Proprietor:
- Less Formalities:
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