Owners do not have limited liability in which of the following organizations? Multiple Choice Exchange-listed utility...

Owners do not have limited liability in which of the following organizations?

Multiple Choice

Exchange-listed utility company.
Sole proprietorship.
Income trust.
Telus Corporation.
Joint stock companies.

Solutions

Expert Solution

Sole proprietorships have single owner and Sole proprietors have unlimited limited. In case if sole proprietor is unable to repay the debts to the creditors, creditors have right to claim over the personal assets of the sole proprietor. Even the partners in the partnership firm have unlimited liability.

where as owners of Exchange-listed utility company, Telus corporation, Joint stock companies, Income trust, have Limited liability.

Answer is

Sole Proprietorship have unlimited liability.

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

Which of the following is subject to unlimited personal liability? Multiple Choice Partners in a general...

Which of the following is subject to unlimited personal liability? Multiple Choice Partners in a general partnership Limited partners in a limited partnership Corporate shareholders Members of LLCs Jennifer, a limited partner in "Raingear to Go," was dissatisfied with the performance of the business. She began attending staff meetings, working in the store, and participating in the day-to-day operations. Which of the following statements is true? Multiple Choice Jennifer's actions caused the limited partnership to become a corporation. Jennifer's actions...

what is limited liability? why does the goverment grant limited liability to the owners of corporations?...

what is limited liability? why does the goverment grant limited liability to the owners of corporations? Why is limited liability more important for firms trying to raise funds from a large mumber of investors than for firms trying to raise funds from a small number of investors?

Which legal entity is paired with the owner(s) that do not have limited liability for the...

Which legal entity is paired with the owner(s) that do not have limited liability for the entity’s debts? A. LLC - LLC member-mangers B. Corporation – Shareholders C. General Partnership – Partner D. Limited Partnership - General partner E. Both Corporation - Corporation and Limited Partnership - General partner. F. A, C and D only G. B and D only

19. Which of the following does NOT have limited liability? Select one: a. corporations b. limited...

19. Which of the following does NOT have limited liability? Select one: a. corporations b. limited partnerships c. sole proprietorships d. none of the above 21. Plants, Inc. had sales of $200 million in 2017, and its cost of sales was $160 million in 2017. If sales are expected to grow at 20% in 2018, compute the forecasted cost of sales in 2018 using the percent of sales method. Select one: a. $96 million b. $132 million c. $176 million...

XYZ LIMITED The following relates to XYZ Limited, a company listed on the London Stock Exchange:...

XYZ LIMITED The following relates to XYZ Limited, a company listed on the London Stock Exchange: £m Assets Non-current assets 107.59 Current assets 18.00 Total assets 125.59 Equity and liabilities Ordinary shares, nominal value 50c 40.00 Retained earnings 26.00 Total equity 66.00 Non-current liabilities 7% bonds, redeemable at par in seven years' time 35.00 Medium term bank loan 17.59 Current liabilities 7.00 Total equity and liabilities 125.59 Other relevant information: Risk-free rate of return 2% Average...

true or false ‏____ 5. One key value of limited liability is that it lowers owners'...

true or false ‏____ 5. One key value of limited liability is that it lowers owners' risks and thereby enhances a firm's value. ‏____ 6. If a firm's goal is to maximize its earnings per share, this is the best way to maximize the price of the common stock and thus shareholders' wealth. ‏____ 7. If Firm A's business is to obtain savings from individuals and then invest them in financial assets issued by other firms or individuals, Firm A...

Which of the following sentences uses subordination? Multiple Choice • Do you want to start with...

Which of the following sentences uses subordination? Multiple Choice • Do you want to start with last year's files, or would it make more sense to look at this year's files first? • My boss is busy on Monday, but she could meet with you on Tuesday. • The project has already been approved, so we can start work on Monday. • Our managers will have their meeting tonight, and they will let us all know the results tomorrow. •...

Which of the following statements is the most accurate description of limited liability? A. In a...

Which of the following statements is the most accurate description of limited liability? A. In a company limited by shares, shareholder who holds a share in the company is not liable beyond any amount outstanding on partly paid shares. B. In a company limited by shares, a company has limited liability for their debts. C. A company is a separate legal entity from its directors, so directors are always shielded from the company's losses. D. A and B above. E....

Property and liability insurance is a form of risk management that insures _______ Multiple Choice A....

Property and liability insurance is a form of risk management that insures _______ Multiple Choice A. you and your property. B. you, your property, and other people. C. your property and other people. D. you for all losses and damages of property belonging to you or others. E. property and libel if you get sued.

Multiple Choice Strategy: Some students have suggested that if you have to guess on a multiple-choice...

Multiple Choice Strategy: Some students have suggested that if you have to guess on a multiple-choice question, you should always choose C. Carl, the student, wants to investigate this theory. He is able to get a sample of past tests and quizzes from various teachers. In this sample there are 80 multiple-choice questions with four options (A, B, C, D). The distribution of correct answers from this sample is given in the frequency table below. Correct Answer Frequency A 15...

Subjects