Question

1 point
Q19. 'In case of excessive loss
in the sole trade one has to lose
household goods'. The
limitation of unlimited liability
of sole trade is brought out by
this statement
O True
O False

Answer 1

Answer:

The main disadvantages to being a sole proprietorship are: Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn't exist as a separate legal entity.