Business Studies, asked by manimuthu1605, 5 months ago

define unlimited liability and credit standing

Answers

Answered by Anonymous

Answer:

Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities. ... Both of these business forms offer some type of liability protection similar to corporations.

Answered by Anonymous

Explanation:

Unlimited liability means the legal commitment of owners of the business as they are liable for all business debts if the assets of the firm/ business cannot meet its debts or liabilities. In short, the liability of the owners towards the business is unlimited.

Previous Question

Next Question

Similar questions

English, 2 months ago

Please do or try it and answer me...

Math, 2 months ago

TRIGONOMETRY 4. 3(sino - cos 0 )+ + 6(sin o + cos 0 )2 + 4(sinº 0 + cosº e) = a) 1 b)-1 d) 0 c) 13...

Hindi, 2 months ago

रास्ते पर यदि तुमहै घायल आवास था मैं एक पंछी मिल जाए तो तुम क्या करोगे?

Science, 5 months ago

What will be the change in the current, if the potential difference is kept constant and the resistance of the circuit is made four times? * It will become four times. It will become one-fourth It will remain unchanged will become half...

Social Sciences, 5 months ago