Question

Which of the following would NOT be personally liable for the debts of the business?

a. a sole proprietor
b. a partner in a general partnership
c. an S corp shareholder
d. a partner in a joint venture

Answer 1

An S corp shareholder would NOT be personally liable for the debts of the business.

Step-by-step explanation:

Out of the options provided, the S corp shareholder would NOT be personally liable for the debts of the business. Unlike a sole proprietor or a partner in a general partnership or joint venture, an S corp shareholder has limited liability. This means that their personal assets are protected and they are not personally responsible for the debts of the business.