In what type of business do the owners bear no personal ﬁnancial responsibility for the company's debts and obligations?
A) partnerships
B) corporations
C) sole proprietorships
D) in all the businesses listed in the other answers

Question

Quizplus · Accepted Answer

In a corporation, the owners (shareholders) have limited liability, meaning they are only responsible for the amount of money they have invested in the company and are not personally liable for the company's debts and obligations beyond that amount. This is different from partnerships and sole proprietorships, where the owners have unlimited liability and can be held personally responsible for the company's debts and obligations.

In What Type of Business Do the Owners Bear No