Examlex
Which statement reflects the response of the executive director of the Virginia Commission on Mental Health Reform when asked about the mentally ill shooter in the Virginia Tech massacre?
Limited Liability
A legal structure that limits the financial responsibility of owners or shareholders to their investment in a company, protecting personal assets from business debts.
Carrying on Business
The act of engaging in commercial activities with a degree of continuity and organization, aiming at producing income or profit.
Sole Proprietorship
A business owned and operated by one person, where there is no legal distinction between the owner and the business.
Unlimited Liability
A legal obligation where business owners and partners are personally responsible for all debts and liabilities of the business.
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