Q 23. Ravi after completing his XII exam from his village school joined the course of electrician in an ITI in a town near his village. After completing the course he tried for a government job but could not get the same. He, therefore decided to help as a worker to a famous electrician Mukesh in a area near to his village . After working with him for two years he decided to start his own electrician shop in his village. For this he purchased equipment for Rs. 5,000 and hired a shop at a monthly rental of Rs. 2,500. He decided to manage the shop by himself.
(a) Identify the form of Business organisation started by Ravi .
(b) Briefly explain any three characteristics of such a form of Business Organisation.
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a) Sole Proprietorship
b) Sole Risk Bearer and Profit Recipient
Lack of Business Continuity
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