If a sole proprietorship fails, which of the owner's assets may be lost?

Name: If a sole proprietorship fails, which of the owner's assets may be lost?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a sole proprietorship, the owner and the business are legally considered the same entity. Therefore, if the business fails, all of the owner's assets, including personal assets invested in the business, personal assets not invested in the business, and mortgaged personal property, may be used to pay off business debts.

If a Sole Proprietorship Fails, Which of the Owner's Assets