When a limited liability company is formed,

A) the partnership activities are limited
B) all partners have limited liability
C) some of the partners have limited liability
D) none of the partners has limited liability

Limited Liability Company

A business framework that combines sole proprietorship or partnership tax benefits with the limited liability protection typical of a corporation.

Limited Liability

A legal structure that limits an owner's loss to the amount invested, protecting personal assets from business debts.

Partnership Activities

Activities involving two or more people or entities collaborating for a mutual goal, especially in a business context.