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Concept Introduction:
Sole Proprietorship Firm − It is the simplest form of business which is handled and managed by a single person.
Requirement 1
To state : The operating activities and the form of organization for said business.
Concept Introduction:
Business Organization: It can be described as an entity created to carry out various commercial activities with an intention of earning profits by providing goods and services based on the needs of the customer.
Requirement 2
To state : The reason behind choosing the form of organization by the owner.
Concept Introduction:
Forms of Organization: It depicts a specific code of conduct and rules to be followed in each type of business organization. Some of the forms of Business Organizations are- Sole Proprietary Firm, Joint Hindu Family Firm,
Requirement 3
To state : The advantages and disadvantages of the form of organization for said business.
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Chapter 1 Solutions
Loose Leaf for Financial Accounting: Information for Decisions
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