The business assets of an organization amount to rs 50,000 but the debts that remain unpaid are 80,000
Answers
Answered by
1
In the given case, the total debts that remain unpaid are Rs. 80,000 but the organizational assets amount to Rs.50,000 only. In such a situation, the creditors can demand from the proprietor to pay Rs.30,000 from his/her personal sources even if he/she has to sell his/her personal property to repay the firm's debts.
Similar questions