The business assets of a firm are worth ...

The business assets of a firm are worth ₹ 2, 00 , 000 but the debts remain unpaid are worth ₹ 3,00,000 . What course of action can the creditors take in the following cases ?
(a) The organisation is a sole proprietorship firm .
(b) The organisation is a partnership firm with A and B , two partners sharing profit equally .

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(a) The creditors may claim from the personal property of the proprietor as he has unlimited liability .
(b) A and B are jointly and individually liable to repay the firm's debts in their profit sharing ratio , i.e., 1:1 , and if one of the partners becomes insolvent then the other is liable ot repay the whole debt .

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