Identify a True Statement About Limited Liability Companies (LLCs)

Multiple Choice

Identify a true statement about limited liability companies (LLCs) .

A) The owners of LLCs can elect to have the company treated as a partnership for tax purposes.
B) Unlike corporations, LLCs are required to hold regular board meetings.
C) Unlike S corporations, the owners of LLCs cannot include foreign investors and other corporations.
D) Most states permit banks, insurance companies, and nonprofit organizations to operate as LLCs.