What does the phrase limited liability mean in a corporate context? (Select all the choices that apply.)
A. Owners' liability is limited to the amount they invested in the firm.
B. Stockholders are not responsible for any encumbrances of the firm; in particular, they cannot be required to pay back any debts incurred by the firm.
C. Owners' liability is limited to fifty percent of the amount they invested in the firm.
D. Stockholders are not responsible for any encumbrances of the firm beyond fifty percent of the amount they invested in the firm; in particular, they cannot be required to pay back any debts incurred by the firm.
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