Which of the following owners is protected by limited liability?
A) A sole proprietor
B) A general partner
C) Owner of a corporation
D) None of the above

Question

Quizplus · Accepted Answer

Owners of a corporation are protected by limited liability, which means their personal assets are separate from the assets of the corporation. This means that their personal assets are not at risk in case the corporation experiences financial difficulties. Sole proprietors and general partners do not have limited liability and are personally liable for the debts and obligations of their business.

Which of the Following Owners Is Protected by Limited Liability