Which of the following statements are TRUE of limited liability companies? (1) Limited...
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Accounting
Which of the following statements are TRUE of limited liability companies?
(1) Limited liability refers to the fact that the companys exposure to debts and liabilities is limited
(2) Financial statements must be produced
(3) A company continues to exist regardless of the identity of its owners
Question 16Answer
a.
All three statements are correct
b.
2 and 3 only
c.
1 and 2 only
d.
1 and 3 only
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