Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. how can a buiness owner end up getting personally

How can a buiness owner end up getting personally sued even if the business is incorporated?

50.1K

Verified Solution

Question

Accounting

How can a buiness owner end up getting personally sued even ifthe business is incorporated?

Answer & Explanation Solved by verified expert
3.6 Ratings (660 Votes)
SolutionIf a business is organized as a limited liability company orcorporation then you and your business will be viewed as separateentities for legal purposes Since the business is treated as aseparate entity you cannot be held personally liable for the debtsof your corporation This means that even if your    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Data from adoption studies on handedness indicate that the effects of shared biological heritage are more...

Chemistry
1.2K views

A student is running an experiment in which 73.4 grams of BaI2 is needed, but the...

Physics
1.2K views

Aakash Institute 32 A current passing through a hot wire ammeter is made of two...

Calculus
1.2K views

The graph of a function f x is given in the diagram 1 b 51...

Calculus
1.2K views

Compute the first second and third derivative of y 2ex 3e 8x 9ln 6x

Calculus
1.2K views

The question asks us to sketch the function y cos 3t First note that the...

Accounting
1.2K views

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The...

Accounting
1.2K views

Please answer. ASAP thank you! 2. Selected worksheet data for Nicholson Conopany are...

Accounting
1.2K views

Find the book value at the end of five years of an asset with a...

Accounting
1.2K views

Breakeven cash inflows and risk Blair Gases and Chemicals is a supplier of highly purified...

Accounting
1.2K views

If an employee is given a car to use by an employer, the employee generally...

Finance
1.2K views

Someone purchased for $170,000. He added an addition costing $40,000. The current market value is...