JAMB - Commerce (2025 - No. 22)
Which of the following is a source of capital to a sole proprietorship?
Issue of debenture
Issue of shares
Loans from friends
Admission of new member
Тайлбар
A source of capital for a sole proprietorship could be loans from friends. A sole proprietorship is a type of enterprise that is
owned and run by one person and in which there is no legal distinction between the owner and the business entity. The owner is
in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss,
etc.
owned and run by one person and in which there is no legal distinction between the owner and the business entity. The owner is
in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss,
etc.