Business GCSE
Liability and risk
What Liability and risk means in Business GCSE, as defined for AQA.
Definition of Liability and risk
Check what you remember
Read the wording for your board, then hide it and explain Liability and risk in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Partners usually have unlimited liability, so personal assets can be used to pay business debts, although some partners may have limited liability in certain forms.
Topics that use Liability and risk
- Business ownership (AQA GCSE)
Related terms
- Conflict and agreements
- Dividend
- Incorporated structures
- Incorporation
- Limited liability
- Not-for-profit organisation
- Partnership
- Private limited company (Ltd)
Using Liability and risk in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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