Which business form has the advantage of limited liability?
A)Corporation.
B)Sole proprietorship.
C)Partnership.

Question

Quizplus · Accepted Answer

A corporation has the advantage of limited liability, which means that the shareholders are only liable for the amount of their investment in the company. This means that their personal assets are protected if the company incurs debts or faces legal action. Sole proprietorship and partnership do not have limited liability, and the owners are personally responsible for any debts or legal action taken against the business.

Which Business Form Has the Advantage of Limited Liability