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What was Apartheid?

Apartheid was a system, which existed in some parts of South Africa from 1948 until the early 1990s. Apartheid refers to a system of... View Article

The business assets of an organisation amount to Rs. 50,000 but the debts that remain unpaid are Rs. 80,000. What course of action can the creditors take if (a) The organisation is a sole proprietorship firm (b) The organisation is a partnership firm with Anthony and Akbar as partners. Which of the two partners can the creditors approach for repayment of debt? Explain giving reasons

(a) As the sole proprietor has unlimited liability in case of a sole proprietorship. Creditors can claim the personal assets of the proprietor in... View Article