Question

Which legal entity is correctly paired with the party that bears the ultimate responsibility for paying the legal entity's liabilities?

1) LLC - LLC members
2) Corporation - Corporation
3) General Partnership - Partnership
4) Limited Partnership - General partner
5) Both B and D

Answer 1

In a Limited Liability Company (LLC), the LLC members bear the ultimate responsibility for paying the legal entity's liabilities.

Step-by-step explanation:

The correct legal entity paired with the party that bears the ultimate responsibility for paying the legal entity's liabilities is:

1. LLC - LLC members

LLC stands for Limited Liability Company. In an LLC, the members are the owners of the company. They have limited liability, meaning they are not personally responsible for the company's debts. If the company faces liabilities, the LLC members are responsible for paying them.