Which of the following firms has unlimited liability?
A) only proprietorships
B) only partnerships
C) only corporations
D) both proprietorships and partnerships

Name: Which of the following firms has unlimited liability? A) only proprietorships B) only partnerships C) only corporations D) both proprietorships and partnerships
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Question

Quizplus · Accepted Answer

Both proprietorships and partnerships have unlimited liability, meaning the owners are personally responsible for the business's debts and obligations.

Which of the Following Firms Has Unlimited Liability