Marvelous Makeup, a fictitious company, distinguishes itself from sole proprietorships and partnerships because it is a legal entity entirely separate from its owners. Select all of the statements that accurately describe the characteristics of Marvelous Makeup.

Responses

It shares personal liabilities with its owners.

It shares personal liabilities with its owners.

It has limited personal liability for its actions.

It has limited personal liability for its actions.

It avoids taxation.

It avoids taxation.

It relies on the personal assets of its owners.

It relies on the personal assets of its owners.

It enters into binding contracts.