Limited Liability Is a Feature of What Form(s) of Business

question 45

Multiple Choice

Limited liability is a feature of what form(s) of business organisation?

• A) Company
• B) Sole proprietorship
• C) Partnership
• D) Both a company and a partnership

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Definitions:

Private Sector

The part of the economy owned and operated by individuals and companies for profit, as opposed to the public sector operated by the government.

Picketing

The act of demonstrating or protesting, often by workers, outside a place of employment to voice grievances or demands.

Statutes

Laws established by a legislative body governing behavior and setting forth the legal responsibilities and duties of parties.

Free Contractual Nature

Describes the principle that parties are free to negotiate and enter into contracts without undue interference or restrictions.