In comparison to a corporation,the owners of a general partnership ________.
A) have limited claim on the profits generated by the business
B) are restricted from dissolving the business without prior notice to the SEC
C) have an unlimited personal liability for the debts of the business
D) are taxed at two levels

Question

Quizplus · Accepted Answer

The owners of a general partnership have unlimited personal liability for the debts of the business, while in a corporation, the owners have limited liability. The other options are not true for general partnerships.

In Comparison to a Corporation,the Owners of a General Partnership