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Jim and Sherry own Lawns for Less, Inc., a commercial lawn cutting service. The couple supplements their income with the rentals from a few apartment buildings that they own. They incorporated the lawn care business in order to keep it separate from their other income. As a C-corporation, if the business should fail, the couple would _______.

Respuesta :

Answer:

not be liable for the corporation's debts.

Explanation:

A C-corporation is a legal entity that limits the lability of its owners and if the business fails, the shareholders are not personally liable for the debts the corporation has and the creditors can only take the assets of the organization.

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