The debts of the business are also the debts of the owner(s) is _________ and applies to ________.

The statement "The debts of the business are also the debts of the owner(s)" is known as "Unlimited Liability" and it applies to "Sole Proprietorships" and "Partnerships".

Here's the step by step explanation:

1. Unlimited Liability: This is a type of investment in which a business owner is personally responsible for all of the company's debts. This means that if the company cannot pay its debts, the owner's personal assets can be seized to fulfill the debt obligations.

2. Sole Proprietorships: This is a type of business that is owned and run by one individual. There is no legal distinction between the owner and the business, meaning the owner is personally responsible for all the business's debts.

3. Partnerships: This is a type of business where two or more people share ownership. Each partner contributes to all aspects of the business, including money, property, labor, or skill. In return, each partner shares in the profits and losses of the business. Like sole proprietorships, partners are personally responsible for the business's debts.