Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 3 - No. 9)
What does it mean that the owner has unlimited liability?
The owner is responsible for the business’s debts.
The owner has limited access to the business’s finances.
The business’s finances are kept public.
The owner can only use the business’s money.
Explanation
Unlimited liability means the owner is personally responsible for business debts.
Comments (0)
