elect the best term for each definition below. Limited liability Definitions . Shareholders can lose no more than the amount they invest in the company . Corporate camings are taxed twice at the corporate level and individual shareholder level c. Like an Scorporation, but there are no limitations on the number of owners as in an corporation 1. Traces the line of authority within the corporation . Allows for legal treatment as a corporation, but tax treatment as a partnership 1. Has stock traded on a stock exchange such as the New York Stock Exchange (NYSE). 3. The first time a corporation issues stock to the public 1. Describes (a) the nature of the firm's business activities, (b) the shares to be issued, and (c) the composition of the initial board of directors Articles of Incorporation Double taxation Initial public offering Limited liability