________ have unlimited liability for the actions of the business.

Question

Quizplus · Accepted Answer

General partners have unlimited liability for the actions of the business, meaning they are personally responsible for the debts and obligations of the partnership. Limited liability company members have limited liability, as the name suggests, while corporate shareholders and limited partners have limited liability unless they participate in management, in which case they may have some level of personal liability.

________ Have Unlimited Liability for the Actions of the Business