Question: (Note: Please show all necessary steps; otherwise you will only earn 50% of the total marks) Q1. (1) What is a limited liability company? How

(Note: Please show all necessary steps; otherwise

(Note: Please show all necessary steps; otherwise you will only earn 50% of the total marks) Q1. (1) What is a limited liability company? How does it differ from a registered limited liability partnership? (4 points) (2) Identify and describe at least three factors that need to be considered when choosing a business's legal structure? (3 points)

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