Unlimited liability means Show the business is responsible for the majority of debt it incurs, and filing bankruptcy is out of the question. the business is responsible for the debt it incurs. If the business cannot pay its bills, the debt burden transfers to the owner(s), and he/she/they are liable for all debt. the business is responsible for the debt. If the business cannot pay, the company files for bankruptcy. The debt does not fall on the shoulders of individual owners. They are safe from liability. that all forms of business are responsible for all the debts a business incurs in its everyday operations. Recommended textbook solutions
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What is the most popular form of business ownership in the US quizlet?A sole proprietorship is a business owned and managed by one individual and is the most popular form of ownership.
Which of the following is the most common type of corporation?The C Corporation is the most common form of corporate entity. Also known as a “general for profit corporation”, the C Corporation is owned by shareholders.
Which type of business organization is prevalent in the US greatest number?The most popular type of business organization in the US is the sole proprietorship, a business owned and managed by a single person. Sole proprietorships have limited life and unlimited liability.
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Which of the following types of businesses is most common in the United States quizlet?
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