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Is liability of sole proprietor limited …

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Is liability of sole proprietor limited or not?

Posted by Saniya Khan 5 years, 2 months ago

CBSE > Class 11 > Business Studies

4 answers

Krishna Vinod Lal 5 years, 2 months ago

Unlimited liability

Thakur Harshita Singh 5 years, 2 months ago

The sole-proprietor has unlimited liability. It means that personal property of owner can also be use to pay business liabilities,i f business property is not sufficient to meet the debts. So the owner is personally liable to pay business debts if these are not paid by business assets.

Gaurav Seth 5 years, 2 months ago

Since there is no separation between the owner and the business, the liability of the owner is also unlimited. So if the business is unable to meet its own liabilities, it will fall upon the proprietor to pay them. All of his personal assets (like his car, house, other properties etc) may have to be sold to meet the liabilities of the business.

Saniya Khan 5 years, 2 months ago

Liability of sole proprietor is unlimited.

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