Asked by
Audrey Garza
on Nov 28, 2024
Verified
All forms of business organizations limit the liability of their owners.
Liability Limitation
A provision or agreement that limits the amount of compensation that can be claimed in the event of damage or loss.
Business Organizations
Business organizations are entities set up for the purpose of carrying out commercial enterprise, encompassing various forms like corporations, partnerships, and sole proprietorships.
- Distinguish between the liability structures of different business organizations.
Verified Answer
LF
Learning Objectives
- Distinguish between the liability structures of different business organizations.