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Business Studies

Merits and Limitations of Sole Proprietorship

When is it ap...

Question

When is it appropriate to select sole proprietorship form of organisation ?

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Solution

Sole proprietorship is most suitable for the business:

(a) which requires less amount of capital to establish

(b) which are carried out on a small scale

(c) where customers demand personalised services.

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Q. Sole proprietorship form of business organisation is suitable ________.

Q. Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Why? Give merits of sole proprietorship.

Q. 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.

"Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation? Explain

Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of organisation. Explain.

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