In what 2 types of business organizations would the owners have unlimited liability?

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1173216

2026-03-18 01:25

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Owners of sole proprietorships and general partnerships face unlimited liability. In a sole proprietorship, the individual owner is personally responsible for all debts and obligations of the business. Similarly, in a general partnership, all partners share liability for the business's debts, meaning their personal assets can be pursued to satisfy business obligations.

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