A corporation's assets and liabilities are separate from those of its owners.

Name: A corporation's assets and liabilities are separate from those of its owners.
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This is the principle of limited liability, which means that the owners of a corporation are not personally responsible for the company's debts and obligations. Instead, the corporation itself is considered a separate legal entity with its own assets and liabilities.

A Corporation's Assets and Liabilities Are Separate from Those of Its