Differentiate between Sole Trader organisation and Partnership form of organisation.

Sole Trader Organization vs. Partnership Form of Organization:

1. Definition:

   • Sole Trader: A sole trader, also known as a sole proprietorship, is a business structure where a single individual owns and operates the entire business. They have complete control and decision-making authority.
   • Partnership: A partnership is a business structure where two or more individuals, known as partners, jointly own and manage the business. They share profits, losses, and decision-making responsibilities.

2. Ownership:

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