The maximum number of members that can exist in partnership is 10 in case of a firm carrying on banking business and 20 in case of any other business.

Cooperative housing societies are formed to provide residential accommodation to its members at a reasonable rate. They purchase land, develop it and construct houses or flats and allot the same to members.

Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills- this is a true statement. Sole traders operate mostly on a small-scale basis and their number is large. Sole trader can be referred as the single individual who takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership.

Sole trader do not have to file a business tax return on a company's profits and losses- this is a true statement. Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills. Sole traders operate mostly on a small-scale basis and their number is large. Sole trader can be referred as the single individual who takes all initiatives and run the business.

Sole traders do not have to consult with other individuals to make decisions for the business, which allows them to respond quickly to changes in the marketplace. Sole trader do not have to file a business tax return on a company's profits and losses.
 Sole trader starts his/her business with an objective of earning independent livelihood using his/her skills. Sole traders operate mostly on a small-scale basis and their number is large. Sole trader can be referred as the single individual who takes all initiatives and run the business.

A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he is the single receiver of profit earned.

In sole proprietorship, whole organisation is owned and managed by the single person, who is the owner of organisation. He is the sole bearer of all risks and profits associated with the business.

The person who is involved in the sole trading concern is known as sole trader as he single handedly controls and manages the working of an organisation and is the sole bearer of risks and profits associated with it.

A business which is owned and managed by a single person is called as sole proprietorship. The advantages of this are:

A business which is owned and managed by a single person is called as sole proprietorship. As the owner is a single person he/she has limited capital with him/her to invest in the business. Hence, it is one of the hardships of a sole proprietorship. The limited capital might be due to very low internal sources of finance and/or banks or other external sources of finance will also be unavailable. 

A sole trading concern is a business which is owned and managed by a single person. He is the only risk taker in the business and the profit is enjoyed by himself only. Hence, the most suitable definition of a sole trader form of business organization is the business is owned by one person.

A sole proprietorship is a business which is owned and managed by a single person. It consists of limited capital as there is only one person. Hence, it is a sole proprietorship form of business organization.

A sole proprietorship business requires only one person, less capital to set up. It requires very less legal formalities to establish the business as compare to a company, statutory corporation. public enterprises. Hence, sole proprietorship is easy to form and wind up.

Perpetual succession means continuous without any stoppage. In case of a sole proprietorship there is only one person and the business comes to and end if the owner dies because he is the only owner. Hence, sole proprietorship does not have perpetual succession.

Sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person.'

A company has a separate legal artificial body with a name and common seal by the law. The disadvantages of a company form of organisation are 

LLP stands for Limited liability partnership which refers to a company form of business where the only the partners contribute in the capital and their liability remains limited to the extent of their capital contribution in the business. In this form of partnership, the partners are not liable for the acts of other partners. 

LLP stands for Limited liability partnership which refers to a company form of business where the only the partners contribute in the capital and their liability remains limited to the extent of their capital contribution in the business. In this form of business, there is no requirement to maintain statutory records but books to accounts is compulsory. 

False. 

LLP stands for Limited liability partnership which refers to a company form of business where the only the partners contribute in the capital and their liability remains limited to the extent of their capital contribution in the business. The process of establishing LLP is just like a company which is very complicated. 

Obtaining a license to operate business is mandatory for a sole proprietorship. License is required for those business which requires it will be the correct option. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. 
The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.

As business flourishes, a sole proprietorship might not get a chance to decrease costs as it lacks the economies of large scale business- this is a true statement. Sole proprietors operate mostly on a small-scale basis and their number is large. 'Sole' means singe and 'proprietorship' means ownership. 

Sole traders operate mostly on a small-scale basis and their number is large. Social utility is one of the advantages of sole proprietorship or sole trader.  Sole trader can be referred as the single individual who takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.

One man control is the best in the world if the man is capable enough to manage everything. This statement states about sole proprietorship form of business. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.

The fate of sole proprietorship is connected to the sole proprietor. This conveys about uncertain life about the sole proprietorship. In sole proprietorship type of business the single individual takes all initiatives and run the business. 'Sole' means singe and 'proprietorship' means ownership. The business organization in which the single owner owns, manages and controls all the activities of the business is known as sole proprietorship form of business organization.