Chapter 3

Sole proprietor means _________

Easy Formation means?

if there is a loss will Sam the Sole proprietor share the loss with any one?

What if Sam the Sole proprietor makes profit, will he share it with any one?

Who takes all the decision in a Sole proprietors business?

What does the word Liability mean?

Ms.Steffi is a sole trader, she doesn't have enough money to pay back the bank because her business is not doing well. What should she do?

if the Sole proprietor dies or wishes to end his or her business. What happens to the business?

Which of the following is an Advantage of Sole proprietorship?

Which of the following is disadvantage of Sole proprietorship?