Identify Which of the Following Statements Is False

question 57

Multiple Choice

Identify which of the following statements is false.

• A)The check-the-box regulations permit an LLC to be taxed as a C corporation.
• B)Under the check-the-box regulations, an LLC that has only two members (owners)must be taxed as a partnership.
• C)A business need not be incorporated under state or federal law to be taxed as a corporation.
• D)Once an election is made to change its classification, an entity cannot change again for 60 months.

---

Definitions:

Industry Buzzwords

Industry buzzwords are specialized terms or jargon commonly used within a specific industry, often to describe trends, technologies, or concepts.

Redundant

Unnecessary repetition or duplication of words, phrases, or information that adds no value to the message.

Trade Journal

A publication focused on a particular industry or professional field, providing news, research, and updates.

Technical Terms

Specific vocabulary related to a particular field or industry, used to communicate precise meanings to those familiar with that discipline.