Multiple Choice
Which of the following is not true of a limited liability partnership?
A) All partners are limited partners.
B) Most states restrict this form of ownership to certain types of professions such as attorneys, physicians, dentists, accountants, etc.
C) Although LLPs have many of the characteristics of partnerships, they are taxed as a corporation.
D) It must involve a general partner, a limited partner, a silent partner, and a dormant partner.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: The sole proprietorship is the best form
Q38: C corporations, S corporations, and LLCs can
Q39: All of the following are advantages of
Q41: Which of the following would be most
Q43: What is a sole proprietorship? Explain the
Q44: Stockholders in the corporation have the same
Q44: The partnership,like the proprietorship,avoids the disadvantage of
Q45: Most states do not require a Certificate
Q46: If a sole proprietorship fails,the owner is
Q102: Which of the following generally is not