Which of the following forms of business ownership has unlimited liability?
A) General Partnership
B) Limited Partnership
C) Convention Corporation
D) S Corporation

Question

Quizplus · Accepted Answer

In a general partnership, each partner is personally liable for the debts and obligations of the business without limit. This means that personal assets, such as a home or car, could be used to pay off business debts. Limited partnerships, convention corporations, and S corporations all have some form of limited liability protection.

Which of the Following Forms of Business Ownership Has Unlimited