Which Legal Entity Is Correctly Paired with the Party That

question 62

Multiple Choice

Which legal entity is correctly paired with the party that bears the ultimate responsibility for paying the legal entity's liabilities?

• A) LLC - LLC members
• B) Corporation - Corporation
• C) General Partnership - Partnership
• D)Limited Partnership - General partner
• E)Both B and D

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Definitions:

Interest Rates

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Term Deposit

A bank deposit that has a fixed term or period of time until you can access your money, often with a higher interest rate than savings accounts.

Promissory Note

A financial document in which one party promises to pay another party a definite sum of money at a specified future date or on demand.

Missing Value

A data point that is not recorded or is absent in a data set or analysis.