Which of the Following Statements Is True

question 11

Multiple Choice

Which of the following statements is true  

• A) Both the S corporation and the LLC has shareholders.
• B) The S corporation is limited to 75 shareholders.
• C) Venture capitalists desire the limited liability company.
• D) Owners of an LLC are paid as employees and participate in employee benefits.

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Definitions:

Express Condition

A provision in a contract that must be met as a prerequisite for performance or fulfillment of the contract terms.

Anticipatory Repudiated

Anticipatory Repudiation occurs when one party to a contract indicates they will not fulfill their contractual obligations before they are due to perform.

Breach Of Contract

The violation of any agreed-upon terms or conditions in a contract without lawful excuse.

Breach Of Contract

The failure to perform as specified in a contract without a legitimate legal excuse.