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Year 10 Economics > Business structures > Flashcards

Business structures Flashcards

1
Q

What is unlimited liability

A

If the business fails the personal assets of the owner can be used to repay business debts

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2
Q

What is limited liability

A

If the business fails the personal assets of the owner can not be used to repay business debts

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Year 10 Economics (7 decks)

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