Question
.Comment briefly on the following statements:
a) A business which is owned, financed and controlled by a single person is called sole trader organisation.
b) Funds raised to meet the financial requirements of a business can be classified as ownership capital and borrowed capital.
e) Exchange of goods and services across national boundaries is called 'foreign trade' or 'international trade'.
d) Public utilities are the enterprises which supply essential goods and services to the public.
Answer :
Word Count : 379
A business that is owned, financed, and controlled by a single person is known as a sole trader organization. In this form of business, one individual assumes full responsibility for all operations, decision-making, and liabilities. The owner enjoys complete control over the business, including profits and losses, but also bears unlimited liability, meaning personal assets may be used to settle business debts. This structure is simple to establish, requires minimal legal formalities, and allows for ____ _______ __________ ________ ________ ________ _________ _______.
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A business that is owned, financed, and controlled by a single person is known as a sole trader organization. In this form of business, one individual assumes full responsibility for all operations, decision-making, and liabilities. The owner enjoys complete control over the business, including profits and losses, but also bears unlimited liability, meaning personal assets may be used to settle business debts. This structure is simple to establish, requires minimal legal formalities, and allows for ____ _______ __________ ________ ________ ________ _________ _______.
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