Custom Auto, LLC, Is a Limited Liability Company

question 40

Multiple Choice

Custom Auto, LLC, is a limited liability company. Its members include Dennis and Emma. Like other LLCs with more than one member, unless indicated otherwise, the firm will automatically be taxed as​

• A) ​a person.
• B) ​a corporation.
• C) ​a sole proprietorship.
• D) ​a partnership.

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Definitions:

Treasury Bonds

Long-term, fixed-interest securities issued by the U.S. government as a way of borrowing money to fund its operations and projects.

Issue Price

The price at which new shares or bonds are offered to the public by a company or government for the first time.

Yield Per Annum

The annual return on an investment, expressed as a percentage of the total investment.

Retirement Income

Income that an individual receives after retiring from active employment, which can come from pensions, savings, investments, and government benefits.