In __________, owners have limited liability with regard to the business-they are not personally liable for other owners' malpractice.
A) in a cooperative
B) a limited partnership
C) s sole proprietorship
D) a partnership

Question

Quizplus · Accepted Answer

In a limited partnership, there are two types of partners - general partners and limited partners. The general partners manage the business and are personally liable for its debts and obligations. However, the limited partners have limited liability and are only liable up to the amount of their investment in the partnership. Therefore, in a limited partnership, owners have limited liability with regard to the business.

In __________, Owners Have Limited Liability with Regard to the Business-They