There are three forms of business organization. Which of the following has unlimited liability?
I. Corporation
II. General partnership
A) I only
B) II only
C) Both I and II
D) Neither I nor II

Question

Quizplus · Accepted Answer

General partnership has unlimited liability. In a general partnership, each partner is personally liable for all of the partnership's debts and obligations. However, in a corporation, the shareholders' liability is limited to their investment in the company.

There Are Three Forms of Business Organization