Unlimited liability refers to the fact that creditors of a liquidated corporation can put claims on the assets of shareholders for debts that corporate assets are insufficient to pay.
Answer: False - Unlimited liability applies to the owners of sole proprietorships and partnerships; not to corporations.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.