Concept of Business Organization, Concept, Characteristics, Advantage, Disadvantage, Registration and Renewal of Sole Trading Concern
The business organization is an institution which may be owned and controlled by single or a group of individuals to carry the certain business activities for earning a profit.The business organization is the combination of two words i.e Business and organization where business denotes an economic activity directed to earn profit through the production, distribution and exchange of goods.similarly, the organization refers to the act of bringing necessary resources for the production and distribution of goods and services and utilizing them in the best possible manner for achieving the objectives.
The sole trading concern is established and managed by the single person. The whole amount of investment is being made by a single person. The sole trader individually invests and earn the profit.