Which of the following categories of owners have unlimited liability?
A) general partners in a limited partnership
B) sole proprietors
C) shareholders of a corporation
D) both A and B

Question

Quizplus · Accepted Answer

General partners in a limited partnership and sole proprietors have unlimited liability, meaning they are personally responsible for the debts and obligations of the business. Shareholders of a corporation have limited liability, protecting their personal assets from the corporation's debts.

Which of the Following Categories of Owners Have Unlimited Liability