Which of the following is TRUE in regards to a limited liability company? a. It is organized

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following is TRUE in regards to a limited liability company?
a. It is organized as a corporation.
b. It can elect to be taxed as a partnership.
c. It provides tax and liability advantages to the owners.
d. All are correct.

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Dec 15, 2023 08:25 AM

See More Questions

Which of the following is true in regards to a limited liabilitycompany? Makes up 10% of business organizations in the United States. Provides tax and liability advantages to the owners. Combines the...
Answer multiple choice or true or false 20 questions 1. Which of the following is not one of the characteristics of the citizen soldier portrait? A. The police and the criminal justice system are...
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
S1 Ltd and S2 Ltd belong to the same capital gains group. In May 2014, S1 Ltd transferred a chargeable asset to S2 Ltd. This asset had originally cost 10,000 and its market value in May 2014 was...
1. Define in three to four sentences what effective writing means to you. 2. Explain in three to four sentences what it means to 'consider the audience'. 3. Identify three components of organized...
People with self-management skills can set attainable goals and motivate themselves. ON THE JOB As a payroll clerk, you process all payroll and tax reports. It is December. What do you need to do now...
The current loop in Figure P28.34 lies in the $x y$ plane. For each of the Amperrian paths (a)-(e), is the line integral of the magnetic field positive, negative, or zero? Data from Figure P28.34...
Liquid methyl ethyl ketone (MEK) is introduced into a vessel containing air. The system temperature is increased to 55C, and the vessel contents reach equilibrium with some MEK remaining in the...
a) Explain the following terms as used in real estate appraisals i. Value in use ii. iii. Liquidation value Insurable value b) Describe the cost approach of real estate valuation c) Explain the...
Assess the claim that the term public administration is difficult to define.
Explain why B is the correct answer, show works 10) Carmen and Marc form Apple Corporation. Carmen transfers land that is Sec. 1231 property, with an adjusted basis of $18,000 and an FMV of $20,000...
1. What was the objective of Unilever's Comprehensive Global Masculinity Study? 2. What were the key learnings from the study? 3. What are the implications in terms of Jacob's brand messaging...
Question 4 Jacee is investigating options to purify her water. She currently purchases the water by the tanker already purified (outsourced). She thinks buying the tanker of water, unpurified, and...
What is the first step in a provider being reimbursed for their services?
Question 3 Manatee Splash has received a demand forecast for next month for 300,000 bottles. Fixed costs are $20,000/month and variable costs are 25 cents a bottle 3.1 What is the break-even quantity...
Write a function called count_prime. This function takes an integer as an input and will return the number of prime numbers whose values are less than the input integer. (Example) If the function...
The Crime Stopper Alarm Company produces two models, A and T, for which the product structures are shown at the end of this problem. The quantity required to make one of the next-higher-level items...
For liquid water the isothermal compressibility is given by; where r and b are functions of temperature only. If 1 kg of water is compressed isothermally and reversibly from I to 500 bar at 60(C. how...
Frank finds Thomass wallet, which contains numerous credit cards and Thomass identification. By using Thomass identification and VISA card, Frank goes on a shopping spree and runs up $5,000 in...
On December 2, 2010, Miles executed and delivered to Proctor a negotiable promissory note for $10,000, payable to Proctor or order, due March 2, 2011, with interest at 6 percent from maturity, in...
Gardner owned a quantity of corn, which was contained in a corncrib located on Gardners farm. On March 12, Gardner wrote a letter to Bassett stating that he would sell to Bassett all of the corn in...
Sumitomo Cable manufactures various types of aluminum and copper cables which it sells directly to retail outlets through its distribution channels. The manufacturing process for producing cables...
The Cooper Furniture Company of Potomac, Maryland, assembles two types of chairs (Recliners and Rockers). Separate assembly lines are used for each type of chair. Classify each cost item (AI) as...
The following data are for Marvin Department Store. The account balances (in thousands) are for 2017. 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. 2. Prepare the income...

Which of the following is TRUE in regards to a limited liability company? a. It is organized

Question:

Expert Answer:

The detailed answer for the above question is provided below d All are correct In a lim... View the full answer

Smith and Roberson Business Law

Students also viewed these accounting questions