Question

All the business forms listed below have limited liability EXCEPT the

a. limited liability company.
b. general partnership.
c. "S" corporation.
d. corporation.

Answer 1

The correct answer is b. general partnership. A general partnership does not have limited liability for its partners.

Step-by-step explanation:

The correct answer is b. general partnership. A general partnership does not have limited liability for its partners. In a general partnership, the partners are personally liable for the debts and obligations of the business. This means that their personal assets can be at risk if the partnership fails or faces legal issues.

On the other hand, all the other business forms listed - a. limited liability company, c. "S" corporation, and d. corporation - have limited liability. Limited liability means that the owners' personal assets are protected and they are not personally responsible for the debts and obligations of the business.