Which of the following would NOT be personally liable for the debts of the business?
A)a sole proprietor
B)a partner in a general partnership
C)an S corp shareholder
D)a partner in a joint venture

Question

Which of the following would NOT be personally liable for the debts of the business?
A)a sole proprietor
B)a partner in a general partnership
C)an S corp shareholder
D)a partner in a joint venture

Quizplus · Accepted Answer

An S corp shareholder has limited liability and would not be personally liable for the debts of the business. A sole proprietor, partner in a general partnership, and partner in a joint venture would all be personally liable for the debts of the business.

Which of the Following Would NOT Be Personally Liable for the Debts