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.
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