Question

Emergency problems are most likely to be associated with which of the following?

1) Sole proprietorships
2) General partnerships
3) Limited partnerships
4) Corporations
5) Limited liability companies

Answer 1

Emergency problems are most likely to be associated with sole proprietorships because the owner has full personal liability for any debts or legal issues that arise.

Step-by-step explanation:

Emergency problems are most likely to be associated with sole proprietorships. In a sole proprietorship, the owner has full personal liability for any debts or legal issues that arise. This means that if the business faces an emergency or goes bankrupt, the owner's personal assets may be at risk. In contrast, other business structures like general partnerships, limited partnerships, corporations, and limited liability companies provide some level of protection for the owners' personal assets.