What does the phrase limited liability mean in a corporate context? (excluding any IRS or Federal enforcement action) a. Stockholders are responsible for any encumbrances of the firm; they cannot be required to pay back any debts incurred by the firm. b. Stockholders' liability is not limited to the amount invested. c. Stockholders are responsible for any encumbrances of the firm; they can be required to pay back any debts incurred by the firm. d. Stockholders are not responsible for any encumbrances of the firm; but they can be required to pay back any debts incurred by the firm. e. Stockholders are not responsible for any encumbrances of the firm; they cannot be required to pay back any debts incurred by the firm