What's sole trading concern?
Sole Trading Business... It's the oldest form of business organization. An organization which is established by a single person by investing required amount of capital is called sole trading business enterprise. In this form, a single individual is solely responsible for providing the capital, for bearing the risks and for the overall management and control of the enterprise. It is a one-man show, owned, financed and operated by one man. According to Prof. Haney, " The individual proprietor is a form of business organization at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure " Features/characteristics of sole trading business enterprise: 1 . Single ownership: The sole trading concern is established and managed by a single person. The sole trader individually invests and earns the profit . 2. Single management and control : In ...