The limited liability companies provide all of the owners with limited liability,while allowing them to participate in the management of the business.

Question

Quizplus · Accepted Answer

This is the basic definition of a limited liability company (LLC). The owners, also known as members, are not personally responsible for the debts and liabilities of the business, and they have the ability to actively participate in decision-making and management.

The Limited Liability Companies Provide All of the Owners with Limited