In a limited liability company the individuals who own the company are generally not personally liable for the company debts

a. True
b. False

a
Describe the characteristics of a limited liability partnership and a limited liability company.
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Business

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The primary purpose of the Statute of Frauds is to punish people who perpetrate frauds using

contracts. Indicate whether the statement is true or false

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The worst loss that is likely to happen is referred to as the

A) maximum possible loss. B) probable maximum loss. C) frequency of loss. D) severity of loss.

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