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Question
select all of the following businesses that can have unlimited liability. partnership non - profit corporation multi - level marketing business sole proprietorship private (close) corporation licensing business - format franchise \s\ corporation
Brief Explanations
- Partnership: In a general partnership, partners have unlimited liability as they are personally responsible for the partnership's debts.
- Sole proprietorship: The owner has unlimited liability since the business and the owner are not legally separate, so the owner's personal assets can be used to pay business debts.
- Other options like corporations (non - profit, private, "S" corporation) have limited liability, and multi - level marketing businesses (if structured as a corporation or LLC) or franchising/licensing arrangements typically don't have unlimited liability in the same way as sole props and general partnerships.
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A. Partnership, D. Sole proprietorship