Class-11-Commerce-Sole trader1

Which is the oldest form of Business organisation?

• Sole proprietorship

• Partnership

• Co-operative society

• Company

In which form the owner, establisher and manager is only one?

• Joint enterprise

• Government company

• Co-OPerative society

• Sole proprietor

A major disadvantage of sole proprietorship is

• limited liability

• Unlimited liability

• Easy formation

• Qiuck decision

A major disadvantage of sole proprietorship is

• Limited liability

• Unlimited liability

• Easy Formation

• Quick decision

From the following which one is Non – corporate form of business?

• Joint stock company

• Sole trading business

• Government company

• Co-operatives

When his business assets are not sufficient to pay off the business debts he has to pay from his personal property.

• Limited liability

• Unlimited liability

• Asset

• Liabilty

…………….. is known as individual entrepreneurship.

• Partnership

• Sole trader

• Joint stock company

• Co-operative

He receives all the profits and risks all of his property in the success or failure of the enterprise”- was said by

• Wheeler

• J.L.Hansen

• H.Haney

• O.R.Krishnasamy

The sole trader contributes the required ---------------------------

• Insurance

• Capital

• Liability

• Asset

--------- are to be observed in its formation, management or in its closure.

• No legal formalities

• Compulsory registration

• Companies act2003

• sole trader act