A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: Multiple Choice

1. corporation.
2. limited liability company.
3. sole proprietorship.
4. general partnership.
5. limited partnership.

Question

12-02-2020
Business

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A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: Multiple Choice

1. corporation.
2. limited liability company.
3. sole proprietorship.
4. general partnership.
5. limited partnership.

Respuesta :

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ewomazinoade ewomazinoade · Answer 1 · 2020-02-12T04:51:58+01:00

Answer:

4. general partnership.

Explanation:

A general partnership is when at least two people come together to form a business. These partners would have unlimited liabilities.

A sole proprietorship is A form of business owned by one person who has unlimited liabilities.

A corporation is a a form of business owned by many people known as the shareholders. The shareholders have limited liability.

A limited liability company is owned by at least two partners that have a limited liability.

A limited partnership is a type of partnership with two types of partners- the limited partner and the general partner. The limited partner has limited liability and he is not involved in the daily running of the business while a general partner has unlimited liabilities and she is involved in the daily running of the business.

I hope my answer helps you

A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: Multiple Choice 1. corporation. 2. limited liability company. 3. sole proprietorship. 4. general partnership. 5. limited partnership.

Respuesta :

Otras preguntas

A business formed by two or more individuals who each have unlimited liability for all of the firm's business debts is called a: Multiple Choice

1. corporation.
2. limited liability company.
3. sole proprietorship.
4. general partnership.
5. limited partnership.