Question

Mr. Ravi runs a small shop in a market. What merits will be there in this sole proprietorship form of organization 100 to 150 words

Answer 1

SOLE PROPRIETORSHIP

SOLE PROPRIETORSHIP IS THE PRIVATE FORM OF BUSINESS WHICH IS RUN,OWNED,AND MANAGE BY SOLE/ONE PERSON.It is also called sole tradership.

MERITS÷

(1) Ease to Form÷ Sole tradership business is very easy to form because there is no need of any regulations to start and run this business.☺️

(2)One man take all profits÷ In Sole tradership business ,only one person have a right to take all the profits of their business own.This will help the business to grow timely and fastly.☺️

(3)Secrecy÷ Sole proprietorship business is only run by one person, hence have a full secrecy about its business information with own.☺️

(4) One man control÷ Sole proprietorship is the business that is only run ,managed and owned by one person sole .Hence it's called as one man control business also.☺️

(5) Quick decision÷ A only one person have right to take all its business decisions.Hence he is very quick in taking decisions about business.☺️

$<marquee > hope its helps you$

☺️☺️#Thnkx#