BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The disadvantages of this business organization include unlimited liability, difficulty raising financial capital, difficulty attracting qualified employees, and having a limited life
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Sole Propriotorship
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Partnership
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Corporation
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None of the above
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Explanation:
Detailed explanation-1: -Two types of business organizations have unlimited liability: sole proprietorships and general partnerships.
Detailed explanation-2: -Sole proprietors have unlimited liability and are legally responsible for all debts against the business. Their business and personal assets are at risk.
Detailed explanation-3: -you have unlimited liability for debts as there’s no legal distinction between private and business assets. your capacity to raise capital is limited. all the responsibility for making day-to-day business decisions is yours.
There is 1 question to complete.