Multiple Choice
Which of the following statements is TRUE for a limited liability company?
A) Members have unlimited liability for the debts of the business.
B) Members have limited liability for debts only up to the extent of their investment in the LLC.
C) Only the limited partners have limited liability for the debts of the business.
D) Members are not taxed like members of a partnership.
Correct Answer:
Verified
Correct Answer:
Verified
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