Due to limited liability, unlimited lives, and ease of ownership transfer, the majority of U.S. businesses (in terms of number of businesses) are organized as corporations----False
Explanation:
As in large corporations there is a limited liability up to the amount of shares held by any person. The liabilities are limited and not unlimited.
Also, there is an ease in transfer of ownership as through sale in open market which generally is easily feasible and there are no such difficult processes of following these regulations of transferring ownership.
Also in corporations huge number of people can be involved, as there is no maximum limit of number of owners in corporations.
What type of business has two or more owners and unlimited personal liability?
A general partnership is a business owned jointly by two or more people. Advantages include: more resources and talents come with an increase in partners, and the business can continue even after the death of a partner. Disadvantages include: partnership disputes, unlimited liability, and shared profits.
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