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Standard XII
Economics
Ratios and OMO
Mention any f...
Question
Mention any four limitations of sole trading concerns.
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Solution
The trading concern that is owned and managed by a single person is called sole trading concerns.
In this firm, a single person carries on all the business activities including finance and management.
Limitations of a sole trading concern are :-
1. No separate legal entity
2. Less capital
3. One person manages everything
4. Difficult to expand.
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