Which of the Following Is Correct Concerning a Limited Liability

question 46

Multiple Choice

Which of the following is correct concerning a limited liability company?

• A)It has limited ability to buy,hold,and sell property.
• B)Typically,an LLC is a tax shelter for big corporations.
• C)It is mandatory to have an operating agreement.
• D)Members who manage an LLC are fiduciaries of the LLC.

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Definitions:

Teenagers

Individuals who are in the age group that begins with the onset of puberty and ends at the age of adulthood, often characterized by significant physical, psychological, and social changes.

Suicide

The deliberate act of taking one's own life.

Succeed

Achieving a desired goal, outcome, or status after effort, skill, or courage has been applied.

Attempt

An effort to achieve or complete a difficult task or action.