Limited Liability Means

question 23

Multiple Choice

Limited liability means:

• A) the liability of shareholders for company debts is normally limited to the amount they have paid for their shares.
• B) the liability of directors for company debts is limited.
• C) if the company fails, the creditors may have to bear greater losses than if they were dealing with a non-company.
• D) A and C

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Definitions:

Permanent Storage

Data storage devices or media that retain information permanently or for extended periods without power.

Random Access Memory

A type of computer memory that can be accessed randomly, used to store working data and machine code currently in use.

MIDI

Musical Instrument Digital Interface, a standard protocol for the interchange of musical information between musical instruments, computers, and other devices.

Electronic Instruments

Devices that generate or measure electrical signals for purposes in music, measurement, and other applications.