DSST Introduction To Business Practice Questions - DSST Introduction To Business Exam

Which statement best describes a limited liability company?

It combines liability protection for owners with flexible tax and management features. It may have only one owner and must sell shares to the public. It requires every owner to be personally liable for all company debts. It is a government agency created to regulate corporations.

Correct Answer:

It combines liability protection for owners with flexible tax and management features.

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