In the context of a business failure,a bankrupt sole proprietor's diminished credit rating will likely be enduring.

Question

Quizplus · Accepted Answer

In the case of a sole proprietorship, the business owner's personal finances and the business's finances are legally considered the same. Therefore, a bankruptcy in the business directly affects the owner's personal credit rating, and the negative impact on the credit rating can be long-lasting.

In the Context of a Business Failure,a Bankrupt Sole Proprietor's