Q.State any four features of a Sole Trading Concern.

A Sole Trading Concern is defined by single ownership, no separate legal identity, unlimited liability, and one-man control.

Pick any four features from the chapter's feature list and state each with one line of explanation.

Four representative features of a Sole Trading Concern:

1. Single ownership — the business is owned by one individual, who alone invests capital and takes all profit.
2. No separate legal entity — the law does not distinguish the business from its owner.
3. Unlimited liability — the owner's personal assets are exposed to business debts once business assets are exhausted.
4. One-man control — the owner alone makes every management decision, though employees may assist in operations.

(Other acceptable features: no compulsory registration to begin trading in most lines of business; lack of continuity, since the business is legally tied to the owner's life.)