Which Statement Is TRUE

question 95

Multiple Choice

Which statement is TRUE?

• A) An S corporation and an LLC are identical.
• B) An S corporation and an LLC both limit liability.
• C) An S corporation and an LLC both avoid double taxation in all cases.
• D) An S corporation and an LLC both pay corporate taxes.

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Definitions:

Tight Folds

Rock layers that have been bent very closely together, typically as a result of high pressure, forming narrow and sharp folds.

Cleavage

A property of minerals that allows them to break along smooth, flat surfaces, determined by the mineral's crystal structure.

Columnar Joints

Natural formations resulting from the cooling and cracking of volcanic rock into nearly hexagonal columns.

Finely Crystalline

Describes a rock texture that consists of small, closely-packed crystals not easily visible to the naked eye.