Todd and Cathy Created a Firm That Is a Separate

question 31

Multiple Choice

Todd and Cathy created a firm that is a separate legal entity and will share ownership of that firm on a 50/50 basis.Which type of entity did they create if they have no personal liability for the firm's debts?

• A)limited partnership
• B)corporation
• C)sole proprietorship
• D)general partnership
• E)public company

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Definitions:

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The period of colonial dominion over various territories by the Spanish Empire, characterized by significant cultural, social, and political changes in the regions under Spain's control.

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The sixth President of the United States (1825–1829) known for his diplomatic service and being a key figure in the formulation of foreign policy.

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