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What is the liability of a sole proprietorship firm owner?
5. What is the liability of a sole proprietorship firm owner?
- Limited
- Unlimited
- No Liability
- Restricted Liability
Answer: B) Unlimited
Explanation:
Sole owners and accomplices have a limitless obligation. The limitless responsibility implies that assuming you can't reimburse the obligations of the business, your loan bosses can pursue whatever you own.