Asked by
Daniel Holmes
on Nov 06, 2024
Verified
Which of the following is true of limited liability companies?
A) They are taxed like a C corporation.
B) They are very complex and difficult to run.
C) They require members to regularly hold meetings.
D) They are established for a specific project or for a limited time.
E) They protect the members' personal assets in case of lawsuits.
Limited Liability Companies
Business entities that offer their owners limited personal liability for the debts and actions of the company while enabling profit distributions.
- Understand the fundamentals of organizational structures in business, encompassing both corporations and limited liability companies (LLCs).
- Learn the legal protections and limitations provided to members/owners in different types of business entities.
Verified Answer
LA
Learning Objectives
- Understand the fundamentals of organizational structures in business, encompassing both corporations and limited liability companies (LLCs).
- Learn the legal protections and limitations provided to members/owners in different types of business entities.