Which type of business organization has the advantage of specialization, but the disadvantage of unlimited liability?

Partnership, is the right answer.

Explanation:

In the context of Business, a statutory form of business regulation between two or more people who partake control and profits. However, in a common partnership, the partners operate the business and assume liability for the partnership's obligations and other debts. In this way, the partnership has an advantage of specialization of jobs or goods/services proposed but the disadvantage of unlimited liability.

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