Which of the Following Is NOT an Essential Characteristic of a Limited

question 5

Multiple Choice

Which of the following is NOT an essential characteristic of a limited liability company (LLC) ?

• A)The LLC can elect to be taxed as a partnership or a corporation.
• B)Members' ownership interest is completely and freely transferable.
• C)Members have limited liability for the obligations of the LLC.
• D)The bankruptcy of one member does not dissolve the LLC.

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Definitions:

Unethical Activities

Conduct that violates moral principles or standards of behavior expected in professional and personal settings, often resulting in harm or disadvantage to others.

Performance Goals

Targets set by individuals or teams to achieve specific achievements within a set timeframe.

Extreme Performance Pressure

Intense stress or force applied on individuals or teams to achieve extraordinary levels of output or success.

Undergraduates

Students pursuing their first cycle of higher education, typically leading to a bachelor's degree.