60.1K
Verified Solution
Link Copied!
Which one of the following statements concerning unlimited liability is true
a.Limited partners are personally liable for the debts of the business if the business fails to pay its liabilities.
b.General partnership and company have unlimited liability.
c.Creditors are not allowed to claim any assets of the business to fully cover the unpaid portion of a loan.
d.General partners of limited partnership are personally liable for the debts if the business defaults on its debts.
Answer & Explanation
Solved by verified expert
