Question

what is the social utility of sole proprietorship ​

Answer 1

Answer:

Explanation:

Sole proprietorship is a form of business, which is financed, owned and managed by a sole trader, who bears all the risks of the business and enjoys all the profits arising therein. Apart from various merits like profit, independent control, etc. Sole proprietorship form of business also has some social utility.

Answer 2

The social utility of sole proprietorship ​is to handle business as an individual.

Explanation:

• A sole property is a form of a business that is controlled by a single individual and has no legal distinction between the owner and the business entity.

• He is responsible for the profits and losses on his account. He may use a trading name other than his business name.

• Becoming a sole trader is relatively simple as it enables the business to begin trading and have record-keeping as a more straight forwards business.

• They have the advantage of investing their own capital in their business and are able to access the loans and overdrafts.

Learn more about the social utility of sole proprietorship.

• brainly.in/question/9606735 answered by shreenilogu.