Final answer:
The business form that does not have limited liability among those listed is the general partnership. Unlike limited liability companies, S corporations, and other corporations, partners in a general partnership are personally responsible for the business's debts and liabilities.The correct answer is option A.
Step-by-step explanation:
All the business forms listed below have limited liability except for the general partnership. A general partnership involves two or more people co-owning a business, sharing the responsibilities as well as the profits.
However, in a general partnership, the partners do not enjoy limited liability. Instead, they are individually and collectively responsible for the debts and liabilities of the business.
Other forms of business, such as a limited liability company (LLC), a Subchapter "S" corporation, and a corporation, provide limited liability.
This means that the owners' personal assets are protected in case the business incurs debt or legal issues. In contrast, sole proprietorships, like general partnerships, do not offer limited liability.
The business is not a separate entity from the owner, thereby holding the owner fully responsible for all debts and liabilities.The correct answer is option A.