Which of the Following Statements,if Any,about an LLC Is False

question 147

Multiple Choice

Which of the following statements,if any,about an LLC is false?

• A)An LLC is usually taxed like a partnership.
• B)"Members" of an LLC generally have limited personal liability for debts of the LLC.
• C)"Members" of an LLC can participate in management of the LLC unless the member agrees not to participate.
• D)An LLC can specially allocate income items,as long as the substantial economic effect rules of § 704(b)are followed.
• E)None of the above statements is false.

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Definitions:

Obsessive-Compulsive Disorders

A mental health condition characterized by unwanted, recurring thoughts (obsessions) and repetitive behaviors (compulsions) that an individual feels compelled to perform.

Intrusive Thoughts

Unwelcome, often distressing, thoughts or images that suddenly appear in a person's mind without the intention to think them.

Repetitive Behaviors

Actions performed repeatedly in a similar manner, often observed in various psychological disorders but also in everyday activities and rituals.

Anxiety Disorders

A category of mental health disorders characterized by significant fear or anxiety that impacts a person's daily functioning.