Question

the business assets of an organisation amount to Rs. 50000 but the debts that remain unpaid are Rs. 80000 what course of action can the creditors take if the organisation is a sold proprietorship? give reason in support of your answer.​

Answer 1

Answer:

The course of action the creditors can take if the organisation is a sole proprietorship firm that creditors will approach to the Proprietor and if he fails to pay the remaining debt, they can arrange it from his personal assets.