Q6
Sole-trade organization is also called as ______.
A.
Individual proprietorship
AnswerB.
Partnership
C.
Joint stock company
D.
Co-operative society
Answer: Option A
Solution
Answer: Option A
Solution:
Sole-trade organization is also called as Individual proprietorship. It is the type of entity that is fully owned and managed by one natural person (not a legal person/entity) known as the sole proprietor. The business and the man are the same, it does not have a separate legal entity.