Sole trading concern and partnership firm
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Basic difference
1. Sole Trading- Meaning Owned and controlled by only one person
Partnership Film-Two or More persons come together for partnership firm
2. Sole Trading- Formation Sole trading can be formed by any one at any time
Partnership Film- Partnership firm can be formed by an agreement between two or more persons
3. Sole Trading- Ownership Only one person can be owner
Partnership Film- Partnership firm owned by two or more and maximum 10 in banking and 20 in other firms.
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