Which type of organisation is usually not-for-profit but also has unlimited liability?
Question
Which type of organisation is usually not-for-profit but also has unlimited liability?
Solution
The type of organization that is usually not-for-profit but also has unlimited liability is a "Sole Proprietorship".
Here are the steps to understand why:
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Not-for-profit: This means that the organization's main goal is not to make a profit. Instead, it focuses on a social, educational, charitable, or other type of service.
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Unlimited liability: This means that the owner of the organization is personally responsible for all the organization's debts. In other words, if the organization cannot pay its debts, the owner's personal assets can be used to pay them off.
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Sole Proprietorship: This
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