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Question

Fill in the blanks:
(a) Sole proprietorship is the _______ from of business enterprises, (latest / oldest)
(b) Sole proprietorship is most suitable form for _______ business, (small / large)
(c) Liability of a sole proprietor is ________ (limited / unlimited)
(d) Sole proprietorship _______ a separate legal entity, (has / does not have)
(e) It is ______ to set up a sole proprietorship firm,(easy / difficult)

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Solution

Fill in the blanks:
(a) Sole proprietorship is the oldest form of business enterprises.
(b) Sole proprietorship is most suitable form for small business.
(c) Liability of a sole proprietor is unlimited.
(d) Sole proprietorship does not have a separate legal entity.
(e) It is easy to set up a sole proprietorship firm.

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