The legal concept of limited liability is important in which of the following types of business organizations?

Question

Quizplus · Accepted Answer

Limited liability is a key aspect of the corporate structure, where shareholders are only liable for the company's debts up to the amount of their investment. Partnerships and sole proprietorships do not have limited liability, and monopolies are not a type of business organization, but rather a market condition where one company has significant control over the industry.

The Legal Concept of Limited Liability Is Important in Which