For which of the following types of business do you think a sole proprietorship firm of organization would be more suitable, and why? |
(i) Grocery store |
(ii) Medical store |
(iii) Legal consultancy |
(iv) Craft centre |
(v) Internet café |
(vi) Chartered accountancy firm |
Answer:
Ans. Sole proprietorship will be more suitable for grocery stores, medical store, and internet cafe because: 1. It has easy formation and closure. 2. It needs limited resources. 3. He will be sole risk-bearer which is not so high and profit recipient. 4. He will have 100% control.
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