If a Partnership Chooses to Form an LLC, Under the Check-The-Box

question 66

Multiple Choice

If a partnership chooses to form an LLC, under the check-the-box rules, and assuming no elections are made, the entity will be taxed as

• A)a partnership if it has more than one member.
• B)an S corporation.
• C)a C corporation.
• D)Unable to determine from the facts presented.

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Definitions:

Code Of Ethics

A set of principles and guidelines designed to help professionals conduct their business with integrity and honesty.

Project Management Institute

An international professional organization for project management professionals, offering certifications, resources, and advocacy.

Work Breakdown Structure

A hierarchical description of a project into more and more detailed components.