Which of the Following Is a Difference Between Limited Liability

question 64

Multiple Choice

Which of the following is a difference between limited liability companies (LLCs) and corporations?

• A) Corporations can have any number of owners, whereas LLCs can have only a limited number of owners.
• B) Corporations are not required to hold board meetings, whereas LLCs must hold regular board meetings.
• C) LLCs are subject to fewer reporting requirements than corporations.
• D) LLCs offer less flexibility than corporations in terms of tax treatment.

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Definitions:

Business Elites

Individuals or groups who hold significant power, influence, and wealth in the business sector, often involved in decision-making processes at high levels.

Morphemes

The smallest meaningful units in a language, such as words, prefixes, or suffixes.

Semantics

The branch of linguistics and logic concerned with meaning, including the relations between words, phrases, signs, and symbols and what they stand for.

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a given language, especially in terms of word order and agreement.