Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following explains the significance of unlimited liability with regard to sole proprietorships? The business can borrow money for any type of

image text in transcribed 

Which of the following explains the significance of unlimited liability with regard to sole proprietorships? The business can borrow money for any type of purchase. Stockholders can borrow money from the business. O There is no limit on the amount an owner can borrow. Creditors will absorb any loss from nonpayment of debt. There is no legal difference between the debts of the business and the debts of the proprietor.

Step by Step Solution

3.50 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below Solution The correct answer is There is ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Systems Analysis And Design

Authors: Joseph Valacich, Joey F George

5th Edition

0133469530, 9780133469530

More Books

Students also viewed these Human Resource Management questions

Question

Newtons second law says So is a force? Explain.

Answered: 1 week ago