Which of the following forms of business organization limits the liability of owners?
A) sole proprietorship
B) general partnership
C) corporation
D) two person partnership

Question

Quizplus · Accepted Answer

A corporation limits the liability of owners, meaning that the owners are not personally responsible for the debts and obligations of the business. The other options, sole proprietorship and general partnership, have unlimited liability and the owners can be held personally responsible for the business's debts and obligations. A two person partnership would be considered a general partnership and also has unlimited liability for the owners.

Which of the Following Forms of Business Organization Limits the Liability