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Tristan Stephens
on Nov 14, 2024

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A business whose owners enjoy limited liability is a

A) proprietorship.
B) partnership.
C) corporation.
D) sole proprietorship.

Limited Liability

A legal structure that limits the personal financial responsibility of owners for the debts and actions of a business.

Corporation

A legal entity distinct from its owners, offering limited liability to its shareholders, and capable of owning assets, incurring debt, and conducting business.

Partnership

A formally established business entity where two or more counterparts participate in managing the firm and splitting the profits.

  • Understand the various forms of business entities and their distinct features, including corporations.
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Pareswari PerisamyNov 15, 2024
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