Members of a Limited-Liability Company (LLC)are Not Personally Liable for the Debts

question 112

True/False

Members of a limited-liability company (LLC)are not personally liable for the debts of the business.

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Definitions:

Administrative Tool

A software utility or application provided within an operating system or software package to assist in managing system or application settings and configurations.

Reliable

Describes something or someone that is consistently good in quality or performance, able to be trusted.

Local Area Network (LAN)

A network that connects computers and devices in a limited geographical area, such as a home, school, or office building, allowing for shared resources.

Geographic Area

A specific physical location on the Earth's surface, defined by natural or artificial boundaries.