Unlimited liability is faced by the owners of: a) C-Corporations (C-Corps) b) S-Corporations (S-Corps) c) Partnerships d) (a) and (c) e) (b) and (c) f) Sole Proprietorships g) (c) and (f) h) (b), (c), and (f) i) None of the above.

Unlimited liability is faced by the owners of: a) C-Corporations (C-Corps) b) S-Corporations (S-Corps) c) Partnerships d) (a) and (c) e) (b) and (c) f) Sole Proprietorships g) (c) and (f) h) (b), (c), and (f) i) None of the above.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 7MC: Owners have no personal liability under which legal business structure? A. a corporation B. a...

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Question

Unlimited liability is faced by the owners of:

a) C-Corporations (C-Corps)
b) S-Corporations (S-Corps)
c) Partnerships
d) (a) and (c)
e) (b) and (c)
f) Sole Proprietorships
g) (c) and (f)
h) (b), (c), and (f)
i) None of the above.

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