Which of the Following Statements About Limited Liability Companies (LLCs)

question 94

Multiple Choice

Which of the following statements about limited liability companies (LLCs) is true?

• A)LLCs are not corporations.
• B)LLCs are like S corporations in that they appeal to small businesses.
• C)LLCs offer their owners the option of being taxed as either a partnership or a corporation.
• D)LLCs are legal in all states in the U.S.
• E)All of the above statements about LLCs are true.

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Definitions:

Budgeted Beginning Inventory

The estimated value or quantity of inventory that a company plans to have on hand at the start of a period.