Why in personalized sector sole proprietor is advisable?
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The sole Proprietor’s own assets which are unrelated to the business are subject to claims of business creditors.A sole proprietorship gives the least protection because the personal liability of the sole proprietor.The proprietor carries the full risk of failure and this can result in sequestration (a process where the assets of the debtor are taken by a trustee to be distributed between creditors) of his or her personal estate.Perpetual existence is not possible. If the owner dies the proprietorship comes to an end.
I hope it helps you
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here is your answer :-
The sole Proprietor’s own assets which are unrelated to the business are subject to claims of business creditors.A sole proprietorship gives the least protection because the personal liability of the sole proprietor.The proprietor carries the full risk of failure and this can result in sequestration (a process where the assets of the debtor are taken by a trustee to be distributed between creditors) of his or her personal estate.Perpetual existence is not possible. If the owner dies the proprietorship comes to an end.
I hope it helps you
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__________________
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