Question

The most suitable definition of a sole trader form of business organization is ____________________.

• A. The business who manufacture only one product.
• B. The business is owned by one person.
• C. The firm has a single buyer.
• D. There is a single seller is the industry.

Answer 1

Answer: (B)

The business is owned by one person.

Briefly sole proprietorship is the business where there is a single owner and he will be entitled to all the profits and losses of the business.