Pakistan study notes for Matric, Intermediate, B.A, B.COM BSC, M.A, BCS. Free Pakistani Urdu educational school, colleges and University notes.

Characteristics of Sole Proprietorship

Q: What are the basic characteristics of Sole Proprietorship?

Ans.: The basic characteristics of Sole Proprietorship could be listed as under:

a. Accounts of this business are kept secret.

b. Rights of ownership are solely possessed by one man.

c. The entrepreneur is personally held responsible to bear the loses.

d. The life this business is short and uncertain.

e. Small amount of capital is required.

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