Unlimited liability with respect to business ownership means ________.
A) to have an obligation to pay all business debt
B) to have an obligation to pay only the money you invest in a business
C) to be liable for expenses incurred only by you, not your employees
D) to be liable for estimated business expenses only
E) to have an obligation to perform all the roles in the company

Question

Quizplus · Accepted Answer

Unlimited liability means that the business owner is personally responsible for all debts and obligations of the business. This means that in case the business cannot pay its debts, the owner's personal assets can be used to pay off the business debts. Therefore, the business owner has an obligation to pay all business debt.

Unlimited Liability with Respect to Business Ownership Means ________