Under which one of the following business organizations do the owners have unlimited liability for all debts of the firm?
A) partnership
B) limited partnership
C) corporation
D) subchapter S corporation

Question

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In a partnership, the owners (partners) have unlimited liability for all debts of the firm. This means that if the firm can't pay its debts, the partners' personal assets can be seized to cover the debt. Limited partnerships and corporations offer some form of liability protection for their owners.

Under Which One of the Following Business Organizations Do the Owners