If a sole proprietorship fails the owner of the business
Asked by maham237 @ in Business viewed by 278 People
Answered by maham237 @
Answer:
If a sole proprietorship fails, the owner of the business will pay all business debts.
Explanation:
A sole proprietorship can be described as a business that is established by a single person and he/she solely is the owner of that business set up. All the profits earned by the company would be received by the sole trader. Likewise, the sole trader would be the person to pay all taxes for the company.
In case the sole proprietorship fails, the sole trader would be the only person who would have to pay all the debts.
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