Question

what is sole propiter ship explain merits and demerits ​

Answer 1

I don't know any body else to give answer him back

Answer 2

Answer:

when a person solemnly owns a business that business is called sole proprietorship. This is a kind of firm which has only a single person rule.

Merits

1. He shares profit to himself

2. Quick decisions making- as he himself has to make decisions.

Demerits

1. He has to alone Baer losses

2. He is the only risk taking person

3. Hasty decision - as he takes decision alone therefore there are chances that they may not result in proft as he may not be expert in every feild.