Examlex
Which of the following is correct?
Limited Liability
Limited liability is a legal structure that restricts an investor's or owner's loss to the amount invested, protecting personal assets from business debts and claims.
Limited Partners
Investors in a limited partnership who contribute capital but have limited liabilities and are not involved in day-to-day management of the business.
Dissolve
To dissolve is to officially end the existence of an entity or agreement, such as dissolving a corporation or dissolving a marriage through divorce.
Bankruptcy
A judicial process that enables individuals or businesses struggling to fulfill their financial commitments to obtain relief from part or all of their debts.
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