Q2 B of 18 Page 265

Answer the following questions in one or two sentences each:

How do sole trading concerns help the consumers?


Sole trading concerns is one of the oldest and simplest form of business organizations, it is owned and managed by a single person who not only enjoys the profits but also shoulders the losses faced by the business. These businesses are directly in contact with the consumers enabling them to better understand the supply and demand patterns.


More from this chapter

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1

Fill in the blanks in the following sentences with appropriate words:

The only business concern under private business organization found in India is ______ .


 2 A

Answer the following questions in one or two sentences each:

Which are the small scale business organizations?


 2 C

Answer the following questions in one or two sentences each:

What are partnership firms?


 2 D

Answer the following questions in one or two sentences each:

Who are sleeping or dormant partners?