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What is 'limited liability?'
a.
Limited liability refers to the ability of a company to limit its liability.
b.
Limited liability refers to how much the directors have to contribute in the event of the company
becoming insolvent
c.
Limited liability refers to the directors' ability to limit their liability for acts of negligence, fraud
etc.
d.
Limited liability refers to the ability of a member to limit his liability to the value of his equity.

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