A business entity formed by two or more individuals who each have unlimited liability for business...
A business entity formed by two or more individuals who each have unlimited liability for business debts is called a
A. corporation.
B. sole proprietorship.
C. general partnership.
D. limited partnership.
E. limited liability company.
Homework Answers
A business entity formed by two or more individuals who each have unlimited liability for business debts is called:-
C. general partnership.
Add Answer to:
A business entity formed by two or more individuals who each
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Business Law II - Chapter 35 Forms of Business Organization Name Date Fill in each blank...
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Exercise 1-6 Distinguishing business organizations LO C4 Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. Business Organization Description Lannister owns Wealth Management. The business is a separate legal entity and pays an additional business income tax. b. Harvey and Louis own NYC Law. Harvey and Louis are jointly liable for partnership debts. Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business...
Business Law II - Chapter 35 Forms of Business Organization Name Date Fill in each blank with the exact legal term. 1. A business organization in which the owner has total control and unlimited personal liability is known as a 2. (True False) Opening a sole proprietorship requires many legal formalities. 3. In this type of partnership, the partners divide the profits (usually equally) and the management responsibilities and share unlimited personal liability for debts. 4. A partnership in which...
Legal entity that is entirely separate from the parties who own it and that is responsible for its own debts is a partnership corporation government sole proprietorship O corporation This type of business structure is the most popular business structure in America sole proprietorship government sole proprietorship corporation partnership
I need some clarification.
Most American businesses are this form of business sole proprietorship Limited liability encourages investors to invest large amounts of money in this form partnership of business It is argued that this form of business contributes the most to increases in the corporation nation's output (GDP) Ownership is distributed among a small number of people. This type of business is partnership subject to unlimited liability. corporation Shareholders are the owners of this form of business. Answer Bank...
Business Law II - Chapter 35 Forms of Business Organization Name Date Fill in cach blank with the exact legal term. 1. A business organization in which the owner has total control and unlimited personal liability is known as a 2. (True False) Opening a sole proprietorship requires many legal formalities. 3. In this type of partnership, the partners divide the profits (usually equally) and the management responsibilities and share unlimited personal liability for debts. 4. A partnership in which...
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