A Limited Liability Company Is a Form of Business Entity

question 20

True/False

A limited liability company is a form of business entity that combines the legal benefits of the corporate form with the tax benefits of the partnership form.

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Definitions:

Supply

The total amount of a good or service that is available for purchase at various prices in a given market.

Economy

A system of production, distribution, and consumption of goods and services in a particular geographic region.

Demand

Demand is an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.

Supply

The total amount of a specific good or service that is available to consumers, often influenced by the price as well as other factors.