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<p>Which of the following statements are TRUE of limited liability companies?</p> <p>(1) The company’s exposure to debts and liability is limited</p> <p>(2) Financial statements must be produced</p> <p>(3) A company continues to exist regardless of the identity of its owners</p> <p>A1 and2 only</p> <p>B1 and3 only</p> <p>C2 and3 only</p> <p>D1,2 and3</p>
D
The correct answer is C:2 and3 only
The company’s exposure to debts and liability is limited
A1 and2 only
can you explain your answer?
A
answer1
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