Question

Which of following form of business is the most simple and common in our country?

• A. Statuary corporations
• B. Sole proprietorship
• C. Company
• D. All of above

Answer 1

The correct option is B Sole proprietorship

Sole Proprietorship is a form of business which is the most simple and common in our country. It is owned and controlled by one person.The main features of the proprietorship form of business are:

1. Single owner
2. Unlimited liability

3. No sharing of profit and loss

4. No Separate Business Entity

5. Less formalities

Thus the correct answer is B.