Question

Unlimited liability means ___________. the business is responsible for the majority of debt it incurs, and filing bankruptcy is out of the question the business is responsible for the debt it incurs. if the business cannot pay its bills, the debt burden transfers to the owner(s), and he/she/they are liable for all debt the business is responsible for the debt. if the business cannot pay, the company files bankruptcy. the debt does not fall on the shoulders of individual owners. they are safe from liability that all forms of business are responsible for all the debts a business incurs in its everyday operations

Answer 1

The answer is "Unlimited liability means the business is responsible for the debt it incurs. If the business cannot pay its bills, the debt burden transfers to the owner(s), and he/she/they are liable for all debt".

Unlimited liability alludes to the lawful commitments general accomplices and sole proprietors since they are at risk for all business obligations if the business can't pay its liabilities. As it were, general accomplices and sole proprietors are in charge of satisfying the greater part of the organization obligations by and by if the organization can't make its installments.  

In this sense, the entrepreneurs are boundlessly obligated for all the business activities. Claims make a major issue for accomplices with Unlimited liability.