In a Limited Liability Company the Individuals Who Own the Company

question 33

True/False

In a limited liability company the individuals who own the company are generally not personally liable for the company debts.

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Definitions:

Free International Trade

The exchange of goods and services between countries without restrictive quotas, tariffs, or other barriers.

Government Restrictions

Regulatory measures imposed by governmental bodies that can limit or direct the actions of individuals or organizations.

Labor

Human effort, both physical and mental, used in the production of goods and services.

Production Possibilities

The various combinations of goods and services that can be produced from a fixed set of resources.