one man control is the best form of business name the form of business and explain it means
Answers
Answer:
One man control is the best in the world if the man is capable enough to manage everything. This statement states about sole proprietorship form of business. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership.
Answer:
It is right to say that one man control is the best in the world if that man is big enough to manage everything because of the following reasons.
Advantages of Sole Proprietorship-
1. Ease of Formation - Starting a sole proprietorship is much easier and less expensive than beginning a corporation. Some states enable sole proprietorships to be shaped without the double taxation requirements affecting most corporations. The proprietorship will be named after the proprietor, or a fictitious title can be utilized to support the enterprise’s advertising.
2. Employment - The spouse of a sole proprietor can be employed without being formally declared as a worker. Spouses may also begin a sole proprietorship, although legal responsibility can be solely assumed by one particular person.
3. Decision Making - Management over all enterprise choices falls to the proprietor. The proprietor may also totally change the sole proprietorship at any time he or she deems necessary.