Tuesday, May 28, 2013

The sole proprietorship is a business where there will be only one owner of the business and he will be responsible for both- profit as well loss.

Sole proprietorship

It is the oldest and common form of business. Most of the people of the United States are engaged in this business. Eight business out ten are sole proprietorship in the United States.

People engage in sole proprietorship because -
      • It is easy to form.
      •  Retain all profits
      • Personal satisfaction
      • Freedom in decision making
      • No tax to give
      • No problem of law


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