Question

Corporations, limited partnerships, and limited liability partnerships differ from sole proprietorships and general partnerships in(1 point)
Responses

liability.
liability.

lifespan.
lifespan.

number of owners.
number of owners.

decision-making.

Answer 1

Corporations, limited partnerships, and limited liability partnerships differ from sole proprietorships and general partnerships primarily in **liability**.

In corporations and limited partnerships, owners typically enjoy limited liability, meaning their personal assets are protected from the business's debts and liabilities. In contrast, sole proprietorships and general partnerships expose owners to unlimited liability, where personal assets can be used to satisfy business debts.