For these types of organisation,no distinction is made between business and personal assets.
A)Sole proprietorship
B)General partnership
C)Limited partnership
D)Both A and B

Question

Quizplus · Accepted Answer

In both sole proprietorship and general partnership, there is no legal distinction between the personal assets of the owner/partners and the business assets. This means that any debts or liabilities incurred by the business can be satisfied using the personal assets of the owner/partners. Limited partnership, on the other hand, has a clear distinction between the general partner (who is personally liable for the business debts) and limited partners (whose liability is limited to their investment in the business).

For These Types of Organisation,no Distinction Is Made Between Business