Owners enjoy limited liability in a
A) proprietorship.
B) partnership.
C) corporation.
D) sole proprietorship.

Question

Quizplus · Accepted Answer

In a corporation, owners enjoy limited liability. This means that the owners' personal assets are protected from any financial obligations or debts incurred by the corporation. This is different from a sole proprietorship or partnership where the owners have unlimited liability and are personally responsible for all debts and obligations of the business.

Owners Enjoy Limited Liability in a