Which of the Following Is True About Limited Liability Company

question 9

Multiple Choice

Which of the following is true about limited liability company?

• A)It is taxed as a separate legal entity.
• B)It combines attributes of a partnership and a corporation.
• C)Its financial resources are limited to the individual owner's resources.
• D)Its formation process is complex.

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Definitions:

Sociological Perspective

A viewpoint in sociology that involves looking at social phenomena and understanding human behavior in the context of the societal forces that influence it.

American Sociologist

A sociologist from the United States who studies the structure and development of American society or contributes to sociological theories and research.

Peter Berger

Peter Berger was a prominent Austrian-American sociologist renowned for his work in the sociology of knowledge, religion, and his contributions to sociological theory, notably in his book "The Social Construction of Reality."

Revolutions

Dramatic and wide-reaching changes in the way something is perceived, conducted, or structured, often referring to political, technological, or social upheavals.