Solve this question with steps please. The subject is legal environment of business (BUS 156). What is 'limited liability?'a. Limited liability refers to how much the directors have to contribute in the event of the company becoming insolvent.b. Limited liability refers to the ability of a member to limit his liability.c. Limited liability refers to the directors' ability to limit their liability for acts of negligence, fraud etc.d. Limited liability refers to the ability of a company to limit its liabilityClear my choice

Something that is due to someone else is referred to as a liability. A regulatory and legal risk or…

Answered: What is 'limited liability?" a. Limited…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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