Limited liability means that the personal wealth of the business owner or shareholders is not subject to the business' liabilities.
Correct Answer:
Verified
Q2: There are no limits on the owner's
Q4: Some rights of partners are implied unless
Q5: A corporation's articles of association should be
Q6: Capital gains are income earned in the
Q8: The desire for continuity of a business
Q11: An ownership interest automatically confers a right
Q12: The board of directors is not liable
Q13: If dividends are paid to the owners
Q15: A limited partnership must have at least
Q20: The sole proprietorship is a business owned
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