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Forms of Business Organisation-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMForms of Business Organisation-12 Marks
Question
How is unlimited liability harmful in Sole proprietorship?
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Answer

  • If there is huge loss in business and debt exceeds the assets of business then the owner has to sell his personal asset to repay business debts. This is how the liability of the owner is harmful.

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