You have until 8:45 PM to complete this assignment. Part 1 Attempt 1/2 for 10 pts. Check all that apply: Limited liability describes a situation where the responsibility of shareholders for the company's debts is limited to the value of their personal wealth. Due to residual claimant, equity-holders are placed last in line and thus less motivated for business innovation. Limited liability describes a situation where the responsibility of shareholders for the company's debts is limited to the amount they paid for the shares. Residual claimant means that the shareholders claim their right at the end after payment to all other stakeholders