Business Studies, asked by gaurishiarora4547, 7 months ago

EXPLAIN THE CONCEPT OF UNLIMITED LIABILITY AS IT RELATES TO SOLE PROPRIETORSHIP?

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Answered by jyotikj08

1

Answer:

Unlimited liability refers to the full legal responsibility that business owners and partners assume for all business debts. This liability is not capped, and obligations can be paid through the seizure and sale of owners' personal assets, which is different than the popular limited liability business structure.

Explanation:

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