Which of the Following Is Not an Advantage of a Limited

question 19

Multiple Choice

Which of the following is not an advantage of a limited liability company (LLC) ?

• A)limited liability for all members of a LLC
• B)ability to choose between taxation as a partnership or corporation
• C)default tax treatment as a corporation,unless otherwise elected
• D)All of the above are advantages of an LLC.

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Definitions:

Copyright

The exclusive right to publish and sell a literary, artistic, or musical composition.

Long-Lived Assets

Assets with a useful life of more than one year, typically including property, plant, and equipment, which are used in the operations of a business.

Land Improvements

Enhancements made to a piece of land to increase its value or functionality, such as landscaping, fencing, and adding utilities.

Intangible Assets

Non-physical assets such as patents, copyrights, trademarks, and goodwill.