Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills.

True

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False

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Solution

The correct option is A True
Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills- this is a true statement. Sole traders operate mostly on a small-scale basis and their number is large. Sole trader can be referred as the single individual who takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership.

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