Sole proprietorship, Finance Basics

Sole Proprietorship

Definition - A sole proprietorship or sole tradership is the oldest and simplest form of business. It is that type of business organization where one person is responsible for profit and loss and is the sole owner of the business. Sole proprietorship is a form of business organization in which an individual introduces his own capital, uses his own skills and intelligence in management of its affairs, assumes all the risk of business and is solely responsible for the results of his operations. The bakery, hardware stores, service stations, barber shops, doctor's clinics, etc. are examples of sole proprietorships.

 

 

 

Posted Date: 8/29/2012 5:56:40 AM | Location : United States







Related Discussions:- Sole proprietorship, Assignment Help, Ask Question on Sole proprietorship, Get Answer, Expert's Help, Sole proprietorship Discussions

Write discussion on Sole proprietorship
Your posts are moderated
Related Questions
what are the difference between receipt and payment account and income and expenditure account ?

Example of Capital Asset Pricing Model KK Ltd is an all equity firm whose Beta factor is 1.2, the interest rate on T. bills is currently at 8.5% and the market rate of return

Assume IBM pays out all earnings as dividends. Today is t = 0 and IBM just paid a $2 dividend on $2 of earnings. The market expects dividends will grow each year by 5% until t = 4

if u were the professor wht your opinion about vincent mind stage

Types of jobbers in Stock Market There are three kinds of jobbers as: a) Bulls A jobber buys shares while prices are down and hold them in anticipation such t

Trading Mechanism 1. An investor approaches brokers who obtain his bid or prefer to the trading floor. 2. At the trading floor, the selling and buying brokers meet and sea

What financial report exactly do? Financial reports tell its intended readers about all the financial information of the company for the period it is reporting. It also contain

Definition of 'Capital Budgeting': The process in which a business calculates whether projects such as building a new plant or investing in a long-term risk are worth pursuing

Cash Cycle and Cash Turnovers Cash Cycle refers to the amount of time which elapses from the point whenever the firms create a cash outlay to purchase raw materials to the poi

Review the budget below and answer the questions following the budget. FINANCIAL ACCOUNTING—STATEMENT OF REVENUE AND EXPENSES Statement of Revenue and Expenses for Group Practice f