(1 point)
Responses
It limits ownership only to those who own shares of the company’s stock.
It limits ownership only to those who own shares of the company’s stock.
It grants full rights to profits to its owners but also full responsibility for any losses that are incurred.
It grants full rights to profits to its owners but also full responsibility for any losses that are incurred.
It mixes elements of a corporation with sole proprietorship and partnership to protect personal assets.
It mixes elements of a corporation with sole proprietorship and partnership to protect personal assets.
It is established through articles of incorporation, which makes it a separate legal entity.
It is established through articles of incorporation, which makes it a separate legal entity.
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The unique characteristic of a limited liability company (LLC) is:
It mixes elements of a corporation with sole proprietorship and partnership to protect personal assets.
This feature provides the owners (members) of the LLC with limited liability protection, meaning that their personal assets are typically protected from the company's debts and liabilities.
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