Business Studies, asked by shreyasomani794, 5 months ago

difference between limited and unlimited liability​

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Answered by siya251
3

Answer:

Unlimited liability means that the business owner or owners are personally responsible for all of the debts of the business, no matter what the value. The main difference between unlimited and limited liability is the level of risk that a business is willing to take.

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Answered by aashvikatyal99
2

Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.
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