Question

Sole proprietorship is known as One's man show. Explain

Answer 1

Explanation:

A sole proprietorship business organization is a 'One man show' type of organization. A sole proprietor single handedly manages such an organization. He is the sole decision maker and thus, alone bears the risk of the business. He only bears the profit or loss of the business.

Answer 2

Answer:

Explanation:

Sole Proprietorship in simple words is a one-man business organisation. Furthermore, a sole proprietor is a natural person(not a legal person/entity) who fully owns and manages this type of entity. In fact, the business and the man are the same, it does not have a separate legal entity. In addition, a sole proprietorship usually does not have to be incorporated or registered. Thus, it is the simplest form of business structure and the ideal choice to run a small business or medium scale business.