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What does unlimited liability mean?
A
Unlimited liability means the owner is personally responsible for all business debts, without a maximum limit.
B
Unlimited liability means the owner is responsible only for debts that the business can repay from its assets.
C
Unlimited liability means the owner is responsible for business debts only up to the amount originally invested.
D
Unlimited liability means the business's creditors cannot recover debts from the owner's personal possessions.
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1.2.3 Limited liability and choosing a structure Flashcards
25 flashcards on AQA GCSE Business 1.2.3 Limited liability and choosing a structure: the key terms, formulae and case studies you need to recall for Paper 1 and Paper 2.