Answer: While not usual they can be held responsible for all business debts.
Explanation: If you pledge a asset as a collateral a creditor may be able to take said asset and sell it.
Answer:
One of my most passionate belief is "Fail Better". This is the belief which I developed since childhood, my family kept on saying this me when I was just 10 years old. Since then, It has been deeply rooted and firmly suited in my mind. It has influenced me from my childhood, I never felt hesitated in taking risks, trying new ideas, things and adventures in my whole life. This has definitely impacted the way I think, behave and communicate with others. This belief was then further been transformed and translated into "Fall seven times, Get up eight". I have followed these rules very strongly in my whole life. I have started many small businesses when I was in college, almost I failed in them but I learnt so many things which none could have taught me.
This is true. If a firm is considered to be of national interest (i.e. defense or national security), in a mixed economy, the government can take control of the failing business.
