Which of the Following Individuals Have Unlimited Liability Based on Their

question 60

Multiple Choice

Which of the following individuals have unlimited liability based on their ownership interest?
I.general partner
II.sole proprietor
III.stockholder
IV.limited partner

• A)II only
• B)I and II only
• C)II and IV only
• D)I, II, and III only
• E)I, II, and IV only

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Definitions:

Common Defense

A concept referring to measures taken by a nation or group of nations to protect against common threats or aggression.

Voluntarily Assumed

Taking on responsibilities or obligations by choice rather than because of a legal requirement.

Defect Exists

A statement indicating that a flaw or fault in a product or service has been identified.

Negligence-Based

Pertaining to a cause of action that arises from the failure to exercise a standard of care, resulting in harm to another.