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.

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 2 years ago

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