Subject: Business Studies
The sole trading concern is established and managed by the single person. The whole amount of investment is being made by a single person. The sole trader individually invests and earn the profit.
References:
Khanal, Soma Raj, Surendra Thapa Aslami and Sitaram Dhakal. Business Studies. Kathmandu: Taleju Prakashan, 2067.
Pant, Prem R., et al. Business Studies. Kathmandu: Buddha Academic Publishers and Distributors Pvt. Ltd., 2010.
What are the advantages and disadvantages of sole trading concern?
The advantages of sole trading concern:
The disadvantages of sole trading concern are:
Explain the characteristics of sole trading concern
The following are the characteristics of sole trading concern:
Sole management and control:
The owner manages and controls whole affairs of the business. The owner himself/herself directly involve in business activities and manages the business affairs. The owners also engaged in the control of the various activity of a business.
Maintain Secrecy:
In this business, it is very easy to maintain the secrecy of information. The information relating to business are not required to share with other. Therefore, this form of business and highest level of information secrecy.
Explain the advantages of sole trading concern.
The advantages of sole trading concern are explained below:
Social benefits:
Sole trading concern has a number of social benefits. It gives employment to other people of the society the sole trader earns a better status in the society. He can involve himself in social service, provide employment, give donations and proper sponsors social functions. Hence, it provides benefits to the society.
Explain the disadvantages of sole trading concern.
The disadvantages of sole trading concern are:
Explain the advantages and disadvantages of sole trading concern.
The advantages of sole trading concern are explained below:
Social benefits:
Sole trading concern has a number of social benefits. It gives employment to other people of the society the sole trader earns a better status in the society. He can involve himself in social service, provide employment, give donations and proper sponsors social functions. Hence, it provides benefits to the society.
The disadvantages of sole trading concern are:
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