Q.1.
Which of the following is the limitation of the Sole trader?
Q.2.
Profits do not have to be shared. This statement refers to
Q.3.
Sole proprietorship is more suitable for large-scale business.
Q.4.
A sole proprietor has
Q.5.
One disadvantage of sole proprietorship includes
Q.6.
Which is the simplest form of business organization?
Q.7.
The minimum number of persons required to form a partnership is
Q.8.
Stephen and Mike start a consulting service to help businesses manage their trademarks and patents. They are the only partners, sharing equally in the work, profits, and losses.
Q.9.
Rosa and Serena carefully review expansion plans after new partners provide extra funds. However, they know that they remain fully liable if their decisions are not sound.