Enumerate any three distinctive characteristics of a sole proprietorship



The three characteristics of sole proprietorship are
(i) Single Ownership The sole proprietorship firm is owned by a single individual only.
(ii) Individual Risk Bearing In sole proprietorship, firm whole risk is borne by a single individual only.
(iii) Freedom of Operations In sole proprietorship firm, there is minimum government regulation and a sole trader manage and operates business solely. Thus, he enjoys freedom of operations.