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Determining personal liability for the firm debts

Todd and Cathy created a firm that is a separate legal entity and will share ownership of that firm on a 50/50 basis. Which type of entity did they create if they have no personal liability for the firm's debts?

Limited partnership

Corporation

Sole proprietorship

General partnership

Public company

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Determining personal liability for the firm debts

Reference No:- TGS0677045

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Determining personal liability for the firm debts

Reference No:- TGS0677045

Recent Questions Asked Finance Basics

Q : What costs would be capitalize

Q : Problem related to policing society

Q : How many shares must be sold if out-of-pocket costs is given

Q : The purchase and unfavorable direct materials price

Q : Determining personal liability for the firm debts

Q : Social setting to begin to detect patterns in human behavior

Q : Future value of investment cash flows six years

Q : How much did the firm add to retained earnings

Q : Estimating the effective annual yield

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