Economics · Corporate Laws
What is meant by a "Limited Liability Company"?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A company in which the liability of shareholders is limited to the extent of their share capital contribution✓
- 2A firm that is bound by statutory limits on its total production and import volumes
- 3A business structure under complete state ownership and centralized control
- 4An entity obligated to allocate a fixed percentage of profits to social welfare schemes
Correct answer
A company in which the liability of shareholders is limited to the extent of their share capital contribution
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