Why is the proprietor crucial in the private organization? Explain.
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➡️The main reason of all these business is to earn profit and increase their market's shares. The unlimited liability is more important, the owner'sbusiness assets and his personal assets will be owned by the creditors when the business faces financial losses.
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Answer:
Along with the question the correct answer is All of these businesses are primarily motivated by a desire to grow their bottom lines and market shares. The owner's corporate assets and personal assets will be owned by the creditors when the company experiences financial losses, making the unlimited liability more significant.
Explanation:
A portion of the national economy that is not owned by the government is the private sector. Companies or business owners who prioritise customer pleasure and profit maximisation conduct business in this area. The industry is essential to the growth of the economy.Instead of the government, businesses or individuals manage the private sector. Its various forms include partnerships, corporations, and sole proprietorships.
The business proprietors arrange the capital for the private company.
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