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Forms of Business Organisation-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMForms of Business Organisation-13 Marks
Question
Why has sole proprietorship business a short list?
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Answer

  • The owner of the business in sole proprietorship business manages business and invests in business. This liability is unlimited.
  • If the debtors business exceeds the assets of business he has to repay debt by selling his personal assets, they have to wind up his business, if payment is not possible. It may not be possible to run the business because of his insolvency, insanity or death.
  • As a result the life of business comes to an end.

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