Jagat is running a grocery store under the name 'Morning Needs' in a local market. He takes
all decisions about business himself, without any interference from others and also earns a
direct reward for his risk-bearing.
In the context of the above case:
a. Identify and define the form of business organization in which Jagat has promoted his
business.
b. State any four features of this form of business organization
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Answer:
a) Sole Proprietorship
b) 1. Sole Risk Bearer and Profit Recipient
2. No Separate Entity
3. Lack of Business Continuity
4. Confidentiality of information
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