Assume you set up a sole proprietorship and your lawyer tells you that as the owner you will face unlimited liability.What does that mean?
A) You are liable for organizing the business.
B) You could stand to lose your personal wealth if the business goes bankrupt.
C) There is no legal responsibility of the business in case a customer sues, as the business is legally untouchable.
D) None of these explain what unlimited liability means.
Correct Answer:
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