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What does sole proprietorship mean?

Answer and explanation

Correct answer: Business owned by one person

A sole proprietorship is a form of business organisation owned and usually controlled by one individual. The proprietor takes decisions, receives the business income after expenses, and bears the business risks and liabilities as provided by law. It is not a government department, a customer group, or a meeting of people. Therefore, option A gives the correct meaning.

Related tags

Sole ProprietorshipOwnership FormsSole ProprietorshipForms Of Business OrganisationBusiness StudiesClass 11 Mcq

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