Which legal entity is correctly paired with the party that bears the ultimate responsibility for paying the legal entity’s liabilities?
Which legal entity is correctly paired with the party that bears the ultimate responsibility for paying the legal entity’s liabilities?
A. LLC – LLC members
B. Corporation – Corporation and Limited Partnership – General Partner
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D. Corporation – Corporation
E. Limited Partnership – General Partner.
My response is D based on the phrase “paired with”. Please advise if you agree. Corporations are responsible for the legal liabilities of the organization. Thanks