For which organization are the personal assets of the owners at risk?
A)sole proprietorship
B)partnership
C)corporation
D)sole proprietorship and partnership

Question

Quizplus · Accepted Answer

In both sole proprietorship and partnership, the owners are personally responsible for any debts or legal liabilities. This means that their personal assets such as homes, cars, etc. are at risk if the business is unable to pay its debts or faces legal action. In a corporation, the owners' personal assets are generally protected since the corporation is a separate legal entity.

For Which Organization Are the Personal Assets of the Owners