The legal concept of limited liability is important in which of the following types of business organizations?

A statement of assets and liabilities of any business entity is

A) a sweep account. B) legal reserves. C) a balance sheet. D) net worth.

Yield management and price discrimination have enabled firms to increase profits and, at the same time

A) reduce transactions costs. B) capture some consumer surplus. C) reduce the cost of production. D) transfer some producer surplus to consumers.