But whenever
there is a loss he alone has to bear. There are also debts of his business for
which Mr. Vijay is personally responsible as he has to pay it from his personal
property. There is no separate legal status in a sole trading concern. Legally
sole trader and his business organization are one and the same. Mr. Vijay
business of readymade garments is limited to the local market as it is a small
scale business.
What various features of a sole
trader can you note down from this case study?
Name few advantages and
disadvantages of being a sole trader.
No comments:
Post a Comment