Question

pankaj is running a chemist shop under the name bansal medicos in ashok vihar market. he takes all decision about business himself and there is no interference from other. he also earns good profit as a direct reward for his risk bearing. identify the form of business organisation in which pankaj engaged. also any four merits of this form of business ​

Answer 1

Answer:

the form of business organization under which pankaj engaged is sole proprietorship

merits of sole proprietorship

- a sole trade reaps all the benefits

- he/she can take decision voluntarily

- it can be easily formed

Answer 2

Answer:

Pankaj is engaged in Sole Proprietorship.

Merits:

* ease of formation and closure.

* the proprietor is the sole profit recipient.

* direct incentive.

* sense of accomplishment.

* confidentiality of information.