In which types of business do owners have unlimited personal liability and in which do owners have limited personal liability?
What will be an ideal response?
Sole proprietorships and partnerships are subject to unlimited personal liability. Corporations are subject to limited personal liability.
You might also like to view...
Hedging by buying an option
A) limits gains. B) limits losses. C) limits gains and losses. D) has no limit on option premiums.
When total planned real expenditures change due to the changes in net exports, this is known as the
A) interest rate effect. B) real-balance effect. C) open economy effect. D) aggregate balances effect.
The long-run aggregate supply increases as:
a. new production technology is introduced. b. the quality of labor declines. c. the average price level increases. d. natural resources become depleted. e. the minimum wage rate increases.
In absence of externalities, private costs are greater than social costs
a. True b. False Indicate whether the statement is true or false