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In which form of business organisation does the owner have unlimited liability and the firm have no separate legal existence?

2144Medium DSSSB TGT Computer Science 0 replies

In which form of business organisation does the owner have unlimited liability and the firm have no separate legal existence?

  • ASole proprietorship
  • BPrivate limited company
  • CPublic limited company
  • DCo-operative society
Correct answer: A

Explanation

A sole proprietor and the business are one and the same in law, so personal assets can be used to pay the business's debts.

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