What type of liability means that business damages and/or debts can also be attached to the personal assets of the owners?
A) informal liability
B) limited liability
C) unlimited liability
D) funding liability

Question

Quizplus · Accepted Answer

Unlimited liability means that the owners of the business are personally responsible for the debts and damages incurred by the business. This means that if the business is unable to pay its debts, the owners' personal assets can be targeted to cover the costs.

What Type of Liability Means That Business Damages And/or Debts