The business assets of a firm are worth rs 70,000 but the debts remain unpaid are worth rs 1,00,000. What course of action can the creditors take in the following cases:
(i) The organisation in sole proprietorship firm.
(ii) The organisation in partnership firm with A and B, two partners sharing profit equally.
Answers
Answered by
3
Answer:
in sole proprietor ship debt will be paid by one person
in partnership firm debt divided between two partner
Answered by
8
Answer:
if it is sole proprietorship then rs.30000 must be given to creditors by selling personal goods
and same in partnership but 30000 is divided among 2 partners
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