If the business is a corporation or an LLC,the owner can only lose what he or she has invested in the business.

Question

Quizplus · Accepted Answer

This is true. As a separate legal entity, a corporation or LLC can only be held liable for its own debts and obligations. The personal assets of the owner(s) are protected, except in cases where they have signed a personal guarantee for a business loan or engaged in fraudulent activities.

If the Business Is a Corporation or an LLC,the Owner