__________ means that only the assets of the corporation are liable to seizure in the case of economic failure or wrongdoing.

Question

Quizplus · Accepted Answer

Limited liability is a legal concept that means that the owners or shareholders of a corporation are not personally liable for the debts or obligation of the corporation. Only the assets of the corporation can be seized in the case of economic failure or wrongdoing, thereby limiting the potential losses that shareholders may face.

__________ Means That Only the Assets of the Corporation Are