Which of the following categories of owners enjoy limited liability?
A) all partners in a limited partnership
B) common shareholders of a corporation
C) in a partnership, only the general partners
D) only B and C above

Question

Quizplus · Accepted Answer

Common shareholders of a corporation enjoy limited liability, meaning they are not personally responsible for the debts and obligations of the corporation. Limited partners in a limited partnership also enjoy limited liability, but this option is not given. General partners in a partnership do not have limited liability and are personally responsible for the debts and obligations of the partnership.

Which of the Following Categories of Owners Enjoy Limited Liability