Which legal entity is correctly paired with the party that bears the ultimate responsibility for paying the legal entity's liabilities?
A) LLC - LLC members.
B) Corporation - Corporation.
C) General Partnership - Partnership.
D) Limited Partnership - General partner.
E) Corporation - Corporation and Limited Partnership - General partner.

Question

Quizplus · Accepted Answer

Corporations and LLCs, rather than their owners, are responsible for their debts. General partners are responsible for debts of general and limited partnerships.

Which Legal Entity Is Correctly Paired with the Party That