Question

Charlotte and Regina are opening a new business venture to sell gourmet cupcakes. One of the important characteristics in starting a limited liability company is:
a. limited liability for members.
b. the amount of start-up capital required.
c. choosing the name.
d. the number of shareholders.

Answer 1

Answer:

a. limited liability for members.

Explanation:

One of the important if not the most important characteristics in starting a limited liability company is limited liability for members, since the whole company structure revolves around this aspect. This refers to the shareholders being responsible for any debt incurred by the company, but only to the extent of their company shares.