Explain whether the liability of a sole proprietor is limited to the extent of his share in business.
Answers
Answered by
29
Answer:
- The liability of a sole proprietorship is not limited to the extent of his share in business.
- The liability of sole proprietor is unlimited.
- The sole proprietor is personally liable for all business obligations. His own funds can be used if the business profits are insufficient to meet the losses of business.
hellotheir:
what do you mean by HIS OWN FUND (what is fund?)sorry i am a beginner
fund means
a sum of money that is collected for a particular purpose
a sum of money that is collected for a particular purpose
fund means a sum of money that is collected for a particular purpose
please mark as brainliest
yeah (but it is business liability i know right)
and is my answer right please read it
yes your answer is right
thank you boss
please mark my ans as brainliest
Answered by
4
Answer:
YOUR QUESTION IS NOT CLEAR
no it is not limited because as you mentioned sole proprietor (means one person business) he have to pay his liability by even selling his home items because there is not any other partner in the business to share profit and loss
(CORRECT ME IF I AM WRONG)
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