Search for question
Question

As you learned, both sole proprietorship and partnership pose unlimited liability to its owners. Which of the following statements are true about unlimited liability? Only sole proprietorships have unlimited liability

if they are sued Unlimited liability is limited to the extent of investment in business The owner(s) can lose their personal assets if they are sued The amount of profit you make determines how much you are sued in unlimited liability

Fig: 1

Fig: 2

Fig: 3

Fig: 4

Fig: 5