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:

Arbitration

A form of alternative dispute resolution where an impartial third party, known as an arbitrator, makes a decision to resolve a dispute.

Mediation

A process of conflict resolution where a neutral third party assists the disputing parties to reach a mutually acceptable agreement or understanding.

Interpersonal Style

Refers to the consistent ways in which individuals interact and communicate with others.

Maximizing

The strategy of seeking the best possible option or outcome, often without considering the costs or efforts required to achieve it.