The Sole Owner of an Unincorporated Business Unable to Pay

question 124

Multiple Choice

The sole owner of an unincorporated business unable to pay its debts

• A)may be sued by the people to whom the business owes money.
• B)may be forced to pay them out of the owner's own bank account.
• C)may be forced to sell the owner's personal property to pay those debts.
• D)All of these responses are correct.

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Definitions:

Employee Assistance Program

A work-based intervention program designed to identify and assist employees in resolving personal problems that may be adversely affecting their work performance.

Personal Problems

Issues or challenges in an individual's personal life, which can affect their mental health, relationships, or overall well-being.

CEO

Chief Executive Officer, the highest-ranking person in a company or other institution, ultimately responsible for making managerial decisions.

Supervisor

An individual responsible for guiding and assessing the performance of a group of employees within an organization.