Answer: <p>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.&nbsp;Some business organizations are formed to earn income for owners. Other business organizations, called nonprofits, are formed for public purposes. These businesses often raise money and utilize other resources to provide or support public programs.&nbsp;</p>
<p><strong>According to A.N Agrawal:</strong> &ldquo;Business organization is the act of bringing into effective cooperation the available resources for production and distribution of goods with a view to earning profit.</p>
<p>It is clear from the above definition that a business organization is a system of bringing together the available resources like men, materials, money and machines for the production and marketing of goods and services with the purpose of earning profits. Business organization can be classified into following terms:</p>
<ul>
<li>Sole Trading Concern</li>
<li>Partnership</li>
<li>Joint Stock Companies</li>
<li>Co-operative organization</li>
<li>Public Enterprises</li>
<li>Multinational Companies</li>
</ul>

Answer: <p>Sole trading concern is the simplest, oldest and in some respect, the most natural form of business organization in the private sector.&nbsp; The person who starts run sole trading is called sole trader or sole proprietor. The proprietor uses his own skills, intelligence, knowledge, and capability for the successful &nbsp;operation and management of the firm.</p>
<p><strong>"According to Professor Henry</strong>,&rdquo; the individual proprietor is the form of business organization at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure.&rdquo;</p>
<p>According to<strong> Petersen and Plowman</strong>," a sole proprietorship is a business unit whose ownerships and management are vested in one person. This individual assumes all risk and failure of enterprises and receives profit from its successful operation."<br /><br /><br />Characteristics of Sole Trading Concern:<br /><br />Sole investment<br />Sole management<br />sole risk-taking<br />No separate legal entality<br />Unlimited liability<br />Independence<br /><br /></p>
<p><strong>Registration of Sole Trading Concern in Nepal<br /></strong><br />In Nepal, there is no specific law regarding regulation of sole trading concern but it is guided by private form registration act 2014. According to Act, a private firm refers to any industrial enterprise , which is conducted by an individual in his own name or in the name of relative. &nbsp;</p>
<p>The procedure of registration renewable of sole trading concern is explained below:</p>
<ol>
<li>Filling an application</li>
<li>Deposit of fees</li>
<li>Certificate of Registration</li>
</ol>

Answer: <p>The procedure of registration renewable of sole trading concern is explained below:</p>
<ol>
<li>Filling an application</li>
<li>Deposit of fees</li>
<li>Certificate of Registration</li>
</ol>
<p><strong>Filling an application:<br /></strong>It is the first stage of sole trading concern registration. An individual who wants&nbsp;to establish sole&nbsp;trading concern should file an application to the concerned department of the government. An individual should mention all the particulars clearly, correctly, and honestly &nbsp;in the application firm. The application form includes following particulars:</p>
<ol>
<li>Name and address of applicant</li>
<li>Name and address of business</li>
<li>Nature and objective of business</li>
<li>Amount of Investment</li>
<li>Other details as prescribed by concerned department</li>
</ol>
<p>The applicant should submit the attached copies of the citizenship certificate and recommendation of the Federation of &nbsp;Nepalese Chambers of Commerce&nbsp; And Industry.(FNCCI).<br /><br /><strong>Paying Registration Fee:</strong></p>
<p>&nbsp;The applicant has to pay registration charge as prescribed by department Registration fee will variable according to the amount of capital invested. The registrationare required to be deposited in the concerned department</p>
<p>. According to private form registration act 2014, the registration fee of sole trading concern is as following:</p>
<table width="486">
<tbody>
<tr>
<td>
<p><strong>S.No</strong></p>
</td>
<td>
<p><strong>Capital</strong></p>
</td>
<td>
<p><strong>Fees(Rs)</strong></p>
</td>
</tr>
<tr>
<td>
<p>1.</p>
</td>
<td>
<p>Up to Rs 1,00,000</p>
</td>
<td>
<p>700</p>
</td>
</tr>
<tr>
<td>
<p>2.</p>
</td>
<td>
<p>Rs 1,00,001 to Rs 3,00,000</p>
</td>
<td>
<p>2,100</p>
</td>
</tr>
<tr>
<td>
<p>3.</p>
</td>
<td>
<p>Rs 3,00,001 to Rs 5,00,000</p>
</td>
<td>
<p>4,100</p>
</td>
</tr>
<tr>
<td>
<p>4.</p>
</td>
<td>
<p>Rs 5,00,001 to Rs 8,00,000</p>
</td>
<td>
<p>7,600</p>
</td>
</tr>
<tr>
<td>
<p>5.</p>
</td>
<td>
<p>Rs 8,00,001 to Rs 12,00,000</p>
</td>
<td>
<p>10,100</p>
</td>
</tr>
<tr>
<td>
<p>6.</p>
</td>
<td>
<p>Rs 12,00,001 to Rs 15,00,000</p>
</td>
<td>
<p>15,100</p>
</td>
</tr>
</tbody>
</table>
<p><br /><strong>Certificate of Registration:</strong><br />After submitting the application form along with bank deposit slip, the department will verify all the information on it. &nbsp;If the official is satisfied with all &nbsp;the &nbsp;information provided by the applicant, he issues a Certificate of Registration. And the registration gives the legal&nbsp;recognition to the firm.<br /><br /><br /></p>
<p><strong>Renewable of sole trading concern</strong>:<br /><br />Every year the registered firm should renew itself. The proprietor of the sole trading concern should file an application for renewal to the concerned department within 35 days of the beginning of financial year. The amount of capital invested in the business determines the amount of renewal&nbsp;fee.&nbsp;<br /><br />At the present the renewable schedule of renewable fee for sole trading concern are listed below:<br /><br /></p>
<table width="390">
<tbody>
<tr>
<td>
<p><strong>S.N.</strong></p>
</td>
<td>
<p><strong>Capital</strong></p>
</td>
<td>
<p><strong>Renewable Fees</strong></p>
</td>
</tr>
<tr>
<td>
<p>1.</p>
</td>
<td>
<p>Capital up to Rs.1,00,000</p>
</td>
<td>
<p>100</p>
</td>
</tr>
<tr>
<td>
<p>2.</p>
</td>
<td>
<p>Rs.1,00,001 - Rs.3,00,000</p>
</td>
<td>
<p>125</p>
</td>
</tr>
<tr>
<td>
<p>3.</p>
</td>
<td>
<p>Rs.3,00,001 - Rs.5,00,000</p>
</td>
<td>
<p>150</p>
</td>
</tr>
<tr>
<td>
<p>4.</p>
</td>
<td>
<p>Rs.5,00,001 - Rs.10,00,000</p>
</td>
<td>
<p>200</p>
</td>
</tr>
<tr>
<td>
<p>5.</p>
</td>
<td>
<p>Rs.10,00,001 - Rs.50,00,000</p>
</td>
<td>
<p>250</p>
</td>
</tr>
<tr>
<td>
<p>6.</p>
</td>
<td>
<p>More than Rs.50,00,000</p>
</td>
<td>
<p>300</p>
</td>
</tr>
</tbody>
</table>
<p>Non-renewable of sole trading concern within the prescribed time, extra of Rs 35 will be charged to the last date of Ashwin after the termination of Ashwin extra fine of rupees Rs 150 will be charged.</p>
<p>&nbsp;</p>
<p>&nbsp;</p>