In recent years, many partnerships and sole proprietorships have become limited liability companies (LLCs), or limited liability partnerships (LLPs), to limit their owners' personal liability for business debts and other obligations.

Question

Quizplus · Accepted Answer

This statement is true. Many businesses have opted to become LLCs or LLPs to protect their owners from personal liability for business debts and other obligations.

In Recent Years, Many Partnerships and Sole Proprietorships Have Become