Unlimited liability for the owner is a problem for which of the following?
A) limited partnership
B) corporation
C) partnership
D) sole proprietorship
E) both C and D

Question

Quizplus · Accepted Answer

Unlimited liability means the owner(s) are personally responsible for the debts and obligations of the business. This applies to both partnerships, where all partners share this liability (unless it's a limited partnership with limited partners), and sole proprietorships, where the single owner bears all the responsibility.

Unlimited Liability for the Owner Is a Problem for Which