if all of the individuals who own a business share unlimited liability for the businesss losses, these individuals are part of a (n)

BUSINESS MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

if all of the individuals who own a business share unlimited liability for the business’s losses, these individuals are part of a (n)

A	“c” corporation
B	general partnership
C	private corporation
D	“s” corporation

Explanation:

Detailed explanation-1: -Unlimited liability means that any owners/shareholders share responsibility for debts in the case that a business fails, or to settle any legal proceedings (for example, a lawsuit due to employee injury on the job).

Detailed explanation-2: -Solo-proprietorship is appealing because the owner bears unlimited liability. If one partner in a business should die, it is legal for the surviving partner to continue operating the business. Shareholders essentially own a portion of the corporation they have invested with.

Detailed explanation-3: -Key Takeaways A general partnership is a business made up of two or more partners, each obligated for the business’s debts, liabilities, and assets. Partners assume unlimited liability, potentially subjecting their personal assets to seizure if the partnership becomes insolvent.

There is 1 question to complete.

GENERAL KNOWLEDGE

GK

BUSINESS MANAGEMENT