Which of the Following Is True of an LLC

question 59

Multiple Choice

Which of the following is true of an LLC?

• A)An LLC is a creature of federal law.
• B)An LLC is regarded a separate legal entity.
• C)An LLC cannot hold title to property.
• D)The owners of LLC are called general partners or specific partners.

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Definitions:

Earnings At Risk

Potential future losses in wages or salary due to various risk factors, including economic downturns, organizational changes, or personal performance issues.

Incentive Pay

Additional compensation awarded to employees for achieving specific goals, exceeding performance targets, or exceptional work.

Merit Pay

A pay increase given to employees based on their job performance, used as a motivational strategy by employers.

Multicultural Workforce

A diverse team of employees from various cultural backgrounds, enhancing creativity and problem-solving through different perspectives.