Asked by
Abigail Pasquale
on Nov 09, 2024
Verified
Limited liability is the major advantage of forming a business as a corporation.
Limited Liability
A legal structure that limits the financial responsibility of an organization's owners or shareholders to their investment in the company.
Corporation
A legal entity separate from its owners, with rights and liabilities, and the ability to enter into contracts, sue, and be sued.
- Understand the concept of limited liability and how it applies to business structures.
Verified Answer
BJ
Learning Objectives
- Understand the concept of limited liability and how it applies to business structures.
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