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Two technicians are discussing customer service. Technician A says that every department at a dealership must work together with the other departments to retain customers. Technician B says that only the service manager is responsible for customer retention. Who is correct?
Limited Liability
A legal principle that limits an investor's loss in a business venture to the amount of capital invested, protecting personal assets from business debts and obligations.
Tax-Exempt Status
A designation that exempts specific entities or income from tax under federal or state laws.
Personal Assets
Items of value owned by an individual, including both tangible and intangible assets, such as cash, property, investments, and intellectual property.
Insolvent
The condition of being unable to pay off owed debts as they become due.
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