What does the term limited liability mean, Accounting Basics

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What does the term limited liability mean

Consider the following questions:

1. What does the term limited liability mean?

2. Describe what GAAP refers to.

3. Identify and explain the six qualitative characteristics of GAAP.

4. What is the general purpose of financial statements? What are the four types of financial statements?

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Accounting Basics: What does the term limited liability mean

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Accounting Basics: What does the term limited liability mean

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