Multiple Choice
A limited liability company: ______.
A) is the same type of business entity as a "Subchapter S" corporation.
B) has no restriction on the number of owners.
C) is taxed in a manner similar to that of a corporation.
D) has unlimited life regardless of what happens with any individual member.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: While most states have adopted limited liability
Q7: Every limited partnership must have at least
Q8: Both general partnerships and limited partnerships are
Q9: An LLC may be managed directly by
Q10: Under the RULPA, a limited partner probably
Q12: In every state, LLP partners remain _
Q13: A limited partnership can be formed by
Q14: All of the following statements concerning LLC's
Q15: An LLC is a legal entity with
Q16: LLP statutes are designed to permit the