In which business structure do owners have limited liability but also face restrictions on the number of members?

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Q: In which business structure do owners have limited liability but also face restrictions on the number of members?

Solution: A Limited Liability Company (LLC) provides limited liability but often has restrictions on the number of members.

Steps: 5

Step 1: Understand what limited liability means. It means that the owners are not personally responsible for the company's debts.
Step 2: Learn about business structures. There are different types like sole proprietorships, partnerships, corporations, and LLCs.
Step 3: Identify the structure that offers limited liability. A Limited Liability Company (LLC) is one such structure.
Step 4: Check if there are restrictions on the number of members in an LLC. Some states have limits on how many members an LLC can have.
Step 5: Conclude that an LLC provides limited liability but may have restrictions on the number of members.