Define the Term "Limited Liability" and State Why You Think

question 101

Essay

Define the term "limited liability" and state why you think it is an important feature of the corporate form of organization.

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Definitions:

ERP

Organizations leverage Enterprise Resource Planning software to handle everyday business tasks such as accounting, procurement, project management, and manufacturing.

FAIS

Financial Accounting Information System (FAIS) is an information system that collects, processes, and stores financial data to provide key financial information to internal stakeholders.

CRM

Customer Relationship Management, a strategy and software that businesses use to manage and analyze customer interactions and data throughout the customer lifecycle.

DSS

Stands for Decision Support System, which is a computerized program used to support determinations, judgments, and courses of action in an organization or a business.