The statement is true logically, as it is enough for a business owner to describe the proposed business as a sole proprietorship.
A sole proprietorship is a form of business organization that is owned and operated by a single person. In this form of business, all the rules, policies, liabilities, profits and losses are under the control of the business owner.
The given statement is true because the sole proprietorship form of business is usually on a small scale and owned by a single person, therefore it is enough.
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