Question

Which form of business organisations requires minimum legal formalities?

Answer 1

Sole Proprietorship is the form of business organisations requires minimum legal formalities.

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Answer 2

Answer:

Easy formation with less legal formalities than Partnership. Minimum members should be 2 and maximum 10 for banking and 20 for others. At least two persons for division of famIly property with no maximum limit of members. Limited but more than that can be raised In case of sole proprietorship