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Which of the following is the most costly and least risky method of converting from one system to another?
Personal Liability
The legal responsibility of an individual to satisfy debts or obligations from personal assets, not protected by limited liability through a corporate structure.
Incorporators
Individuals involved in forming a corporation, who sign the articles of incorporation and may act as temporary directors until a board is elected.
Perfunctory
Carried out with a minimum of effort or reflection.
Short-lived
Referring to something that lasts for a brief period of time.
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