Which of the Following Is a Recognized Advantage of an LLC

question 95

Multiple Choice

Which of the following is a recognized advantage of an LLC?

• A) The LLC can be taxed as a partnership (two or more members) or a corporation.
• B) In a member-managed LLC, all decisions are made by a majority, which often causes delay in decision making.
• C) A foreign LLC may not be treated the same as a domestic LLC.
• D) Members are personally liable for the LLC's debts and obligations.

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Definitions:

Binomial

An algebraic expression of the sum or the difference of two terms.

Degree 3

A polynomial of degree 3 is a polynomial that has the highest exponent of its variable(s) as 3.

Sum

The result obtained by adding two or more numbers.

Scientific Notation

A way of expressing numbers that are too large or too small to be conveniently written in decimal form, using powers of ten.