Which of the Following Statements About a Limited Liability Company

Multiple Choice

Which of the following statements about a limited liability company is correct?

A) A limited liability company with more than one owner can elect to be classified as either a partnership or a proprietorship.
B) A limited liability company with only one owner can elect to be classified as either a proprietorship or a corporation.
C) If a limited liability company does not make an election under the "check-the-box" regulations, multi-owner entities are classified as corporations.
D) If a limited liability company does not make an election under the "check-the-box" regulations, single-person entities are classified as corporations.
E) None of the above.