In sole proprietorship formation and closure explain in 1 sentence
CLASS 11
BUSINESS STUDIES
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In sole proprietorship formation and closure explain in 1 sentence
CLASS 11
BUSINESS STUDIES
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Answer:
Formation and closure: There is no separate law that governs sole proprietorship. Hardly any legal formalities are required to start a sole proprietary business, though in some cases one may require a license. Closure of the business can also be done easily.
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It is relatively easy to start a business in the form of sole proprietorship as there is no separate law that governs this form of business.