What does limited liability mean?
A) The personal assets of the owners cannot be claimed if the business is bankrupt.
B) Anybody with a liability against a firm can claim only what their liability refers to.
C) The owners of the business are personally responsible for paying expenses incurred by the business.
D) Only employees can have a claim on the assets of the business.
A
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The quantity of goods and services that firms produce and sell at each price level is shown on the
a) aggregate-services curve. b) market-supply curve. c) aggregate-demand curve. d) aggregate-supply curve.
Using real GDP on the horizontal axis instead of real disposable income implies that a marginal propensity to consume 0.75 generates for every additional $100 of real GDP
A) $25 of additional saving. B) $56.25 of additional consumption spending. C) $25 of additional saving and taxes. D) $75 of additional real disposable income.