Question

question 1 (20 points)
in ny, an unincorporated business organization of one or more persons who have limited liability for the contractual obligations and other liabilities of the business is called a
a) limited legal company
b) legal limited company
c) limited leisure company
d) limited liability company

Explanation:

A limited liability company (LLC) is an unincorporated business structure. In an LLC, members (owners) have limited liability. This means their personal assets are generally protected from the company's debts and liabilities. Options a, b, and c are not standard business - organization terms in this context.

Answer:

d) limited liability company