Under which one of the following business organizations do the owners have unlimited liability for all debts of the firm?

a. partnership

b. limited partnership

c. corporation subchapter

d. S corporation

a. partnership

Explanation:

A partnership is when at least two people come together to start a business.

A partnership has unlimited liabilities. It means the personal assets of partners can be used to pay off the debts of the business.

A limited liability company is a company in which the liability of partners is limited to the amount invested in the business.

A corporation is a business where investors can become owners of the company by purchasing shares of the company. A corporation has limited liability. S corporation and corporation subchapter are types of corporation with at most 100 shareholders. The s corporation and corporation subchapter are taxed like a partnership.