An Entity Wherein One or More Owners May Elect to Actively

question 54

Multiple Choice

An entity wherein one or more owners may elect to actively manage the firm while other owners choose limited liability instead of management responsibility is called a:

• A) Corporation.
• B) General partnership.
• C) Limited liability corporation.
• D) Limited liability company.
• E) Limited partnership.

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Definitions:

Radio Buttons

Graphical interface elements that allow users to select one option from a predefined set of mutually exclusive options.

Text Boxes

Rectangular areas in documents or electronic forms where text can be entered or displayed.

Check Boxes

Tools used in forms and questionnaires, allowing individuals to select one or more options from a list of choices.

Sampling Unit

The basic unit containing the elements of the population to be sampled, such as individual participants or geographical areas.