Question

The business assets of an organisation amount to rs 20000 but debts amount to rs. 32000. Whom shall

the creditors approach in the following cases and why:

(a) The organisation is sole proprietorship.

(b) Raman and Daksh are partners.

(c) Mr. Som is the karta.​

Answer 1

Answer:

a only the proprietor is liable because he has unlimited liability

(b) both the partners have to share the debts equally

c Mr Som has to pay debts from his personal asset wherein other co parcernes are liable upto thier share in the business