Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
describe what type of business format that might want to engage in regardless of the possibility of personal liability.
Expert Solution
Step 1 Introduction
The business or any organisation or partnership firm may have profits and loss in the particular business and its the part and parcel of the process, but loss which leads to personal liability are the most dangerous as personal bank balance or assets can be lost due to the liability in the business.
So the businessman and the owner should try to engage in those business which are limited liability partnership so personal liability does not arise, if there is loss in business.
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