Register
What is the liability in sole proprietorships and partnerships??
152k views
5 votes
What is the liability in sole proprietorships and partnerships??

User Tibbelit
by
5.2k points

1 Answer

6 votes

Answer:

Sole proprietors and partners have unlimited liability. The unlimited liability means that if you're unable to repay the debts of the business, your creditors can go after whatever you own.

User Axel Wolf
by
5.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.1m questions

6.7m answers

Other Questions

Misk Co. purchased the following securities during 20X7 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the
Explain the similarities and differences between how both producers and consumer use money
Donna's philosophy as she coordinates the marketing efforts is to keep in mind the company's overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with
Given the following income elasticities of demand: Product Income elasticity movies +3.4 Dental service +1.0 Clothing +0.5 The values indicate that movies and dental services are normal goods, but clothing
Assume PRC Corp., an equipment distributor, sells a piece of machinery with a list price of $600,000 to ACH Inc. ACH will pay $650,000 in one year. PRC normally sells this type of equipment for 90% of
Link Copied!