Which of the Following Firms Has Unlimited Liability

question 191

Multiple Choice

Which of the following firms has unlimited liability?

• A) only proprietorships
• B) only partnerships
• C) only corporations
• D) both proprietorships and partnerships

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Definitions:

Imported Goods

Products or services brought into one country from another, contributing to a country's supply of goods, affecting domestic markets, trade balances, and consumer choices.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive.

Domestic Producers

Manufacturers or providers of goods and services within a country's own borders, as opposed to foreign producers.

Equilibrium World Price

The price at which the quantity of a good demanded globally equals the quantity supplied across the world, without any trade barriers.