Question

Answer is Yes or No:
(a) The sole proprietor is the exclusive master of his business.
(b) The liability of a sole proprietor is limited.
(c) A sole proprietorship has no legal existence apart from its owner.
(d) Sole proprietorship is the oldest form of business organisation.
(e) It is difficult to set up a sole proprietorship.

Answer 1

(a) Yes.

(b) No. The liability of a sole proprietor is unlimited.

(c) Yes.

(d) Yes.

(e) No. It is very easy to set up a sole proprietorship.