Unlimited Liability Means

question 11

Multiple Choice

Unlimited liability means

• A) when you own your own business you are responsible for all the business debts.
• B) you are only liable for the money you invest in the business.
• C) as a franchisee your franchisor is responsible for the debts of the franchise.
• D) you are liable for whatever advertising promises your firm makes.

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Definitions:

Annual Financial Advantage

Describes the financial benefit or gain achieved by an entity over the course of a fiscal year, encompassing all revenue streams and savings.

Variable Costs

Costs that vary directly with the level of business activity.

Variable Costs

Costs that vary in total directly and proportionately with changes in the activity level or volume of output.

Financial Advantage

The benefit or edge that a business or individual has that allows them to generate more income or wealth compared to others.