Unlimited personal liability is a disadvantage for
A) sole proprietorships and partnerships.
B) partnerships and corporations.
C) sole proprietorships and corporations
D) corporations.
Answer: A
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A difference between economic regulation and social regulation is that
A) the former tends to affect the prices at which products are sold and the latter does not. B) the former tends to affect the profits of firms and the latter does not. C) the former tends to be specific to an industry and the latter tends to affect firms in all industries. D) the former tends to be done at the state level and the latter at the federal level.
From 1950 - 2007, recessions in the United States
A) did not occur. B) became more severe than before 1950. C) became less severe than before 1950. D) were about as severe as they were before 1950.