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Author Question: With respect to business types, what does the term 'limited liability' mean? What will be an ... (Read 66 times)

captainjonesify

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on: Jun 29, 2018
With respect to business types, what does the term 'limited liability' mean?
 
  What will be an ideal response?

Question 2

Demand for staples such as dairy products and bread is likely to be both income and price inelastic.
 
  Indicate whether the statement is true or false
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Dnite

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Limited liability is a legal provision that shields owners of a corporation from losing more than they have invested in the firm. Corporations face limited liability. Sole proprietorships and partnerships face unlimited liability.

Answer to Question 2

TRUE


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