Which of the following individuals have unlimited liability based on their ownership interest?
I.general partner
II.sole proprietor
III.stockholder
IV.limited partner
A)II only
B)I and II only
C)II and IV only
D)I, II, and III only
E)I, II, and IV only

Question

Quizplus · Accepted Answer

General partners and sole proprietors have unlimited liability, meaning they are personally responsible for all the debts and obligations of the business. Limited partners, on the other hand, have limited liability, meaning their personal assets are only at risk up to the amount of their investment in the partnership. Stockholders in a corporation also have limited liability, as they are not personally responsible for the debts of the corporation.

Which of the Following Individuals Have Unlimited Liability Based on Their