Unlimited Liability Means

question 261

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:

United States

A federal republic in North America comprising 50 states, known for its significant influence in global economic, political, and cultural matters.

Twenty Million

The numerical figure 20,000,000.

Paralegals

Trained legal assistants who work under the supervision of attorneys, performing tasks like legal research, document preparation, and client interviews.

Businessmen

Individuals engaged in commercial or industrial business activities, often with decision-making power and ownership stakes.