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Among The Disadvantages Of The One-man Business Is The Fact That? - Erudites Academy

Among the disadvantages of the one-man business is the fact that?

by Sunday | Jan 7 | Economics WAEC | 0 comments

A. its capital may not be increased without government permission
B. the proprietor is personally liable for the firm’s debts
C. the proprietor is not able to obtain credit
D. the proprietor may not sue for bad debts

Correct Answer: Option B

B. the proprietor is personally liable for the firm’s debts

Explanation

A one-man business also sole proprietorship is run by an individual. The debts of the proprietor can affect the firm.