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WAEC Commerce 2010 Question 30

Question 30

Business Units

Unlimited liability in business implies that the

  1. A.risk of the owner is limited only to the amount invested.
  2. B.debts are paid with subventions.
  3. C.property of the owners should not be used to secure loans.
  4. D.owners private property can be used to settle the business debts.
Show the answer and explanation

Answer: D (owners private property can be used to settle the business debts.)

Explanation

With unlimited liability, the owner's private property can be taken to pay business debts.