The major advantage of a regular partnership or a corporation as a form of business organization is the fact that both offer the

Question

Alex73 [517]

3 years ago

15

The major advantage of a regular partnership or a corporation as a form of business organization is the fact that both offer the

ir owners limited liability, whereas proprietorships do not. True False

Business

1 answer:

posledela · Answer 1 · 2022-08-22T03:46:32+03:00

Answer:

True

Explanation:

Some owners of a regular partnership (limited liability partnership) or a corporation (S-corporation) enjoy limited liability, unlike the owners of proprietorships, whose business liabilities and solvency are backed with the personal assets of the owners. The owners of a C-corporation enjoy full limited liability unless the corporate veil is lifted by the court, depending on prevailing circumstances. With limited liability also comes limited participation in the management of the entity.