A distinguishing characteristic of a limited liability company is that it
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Correct Answer: Option D
Explanation:
A distinguishing characteristic of a limited liability company is that it can sue and be sued in its own name. This is because a limited liability company is a separate legal entity distinct from its owners (shareholders). Once incorporated, the company has its own legal personality, allowing it to own property, enter into contracts, and take legal action or be taken to court in its own name.
A distinguishing characteristic of a limited liability company is that it can sue and be sued in its own name. This is because a limited liability company is a separate legal entity distinct from its owners (shareholders). Once incorporated, the company has its own legal personality, allowing it to own property, enter into contracts, and take legal action or be taken to court in its own name.