Question on: JAMB Economics - 2019
Among the disadvantages of the one-man business is the fact that______
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
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Correct Option: B
The debts of the proprietor can affect a one man business or also known as sole proprietorship, it is run by an individual.
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