Question

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​

Answer 1

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