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What is the term that describes the fact that owners of sole proprietorships and partnerships are totally personally responsible for all the debts of their firms?Select one of the options below as your answer: A. insolvency B. bankruptcy C. unlimited liability D. credit risk
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Asked 2/5/2013 8:16:04 AM
Updated 1/12/2017 9:53:30 AM
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This answer has been confirmed as correct and helpful.
Edited by Andrew. [1/12/2017 9:53:28 AM], Confirmed by Andrew. [1/12/2017 9:53:30 AM]
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User: What is the term that describes the fact that owners of sole proprietorships and partnerships are totally personally responsible for all the debts of their firms?Select one of the options below as your answer: A. insolvency B. bankruptcy C. unlimited liability D. credit risk

Weegy: Unlimited liability is the term that describes the fact that owners of sole proprietorships and partnerships are totally personally responsible for all the debts of their firms.
johnlennons|Points 900|

User: Who is responsible for a corporation's debt?Select one of the options below as your answer: A. the bondholders B. the federal government C. the corporation D. the shareholders

Question
Asked 2/5/2013 8:16:04 AM
Updated 1/12/2017 9:53:30 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Edited by Andrew. [1/12/2017 9:53:28 AM], Confirmed by Andrew. [1/12/2017 9:53:30 AM]
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