Question

Mr. Simpson is liable for all the debts of his company. Mr. Simpson has which type of business organization?

Answer 1

unlimited liability is what Mr. Simpson has.

Answer 2

If Mr. Simpson is liable for all the debts of his company, Mr. Simpson has an unlimited liability business organization.

Step-by-step explanation:

Unlimited liability business organizations are private firms whose owner(s) or stockholders take personal and unlimited liability. Therefore, they assume full legal responsibility for all business debts and obligations and their liability is not capped.