Who owns a sole proprietorship business?
Answer and explanation
Correct answer: One person
A sole proprietorship is owned and controlled by one individual. That person normally provides or arranges the capital, makes business decisions, receives the results, and bears the business risk according to the nature of the business. Therefore option A is correct. Customers, a village, or the government are not automatically owners.
Frequently asked questions
What is the correct answer to this question?
One person
Why is this the correct answer?
A sole proprietorship is owned and controlled by one individual. That person normally provides or arranges the capital, makes business decisions, receives the results, and bears the business risk according to the nature of the business. Therefore option A is correct. Customers, a village, or the government are not automatically owners.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Forms of Business Organisation. Topic: Sole Proprietorship.
