If a Partnership Chooses to Form an LLC, Under the Check-The-Box

question 66

Multiple Choice

If a partnership chooses to form an LLC, under the check-the-box rules, and assuming no elections are made, the entity will be taxed as

• A)a partnership if it has more than one member.
• B)an S corporation.
• C)a C corporation.
• D)Unable to determine from the facts presented.

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Definitions:

Demographic Transition

A model that describes the transformation of countries from having high birth and death rates to low birth and death rates as a society progresses economically and socially.

World Population

The total number of living humans on Earth at a given time, which affects resource demand, environmental sustainability, and global policies.

An Essay on the Principle of Population

A work by Thomas Malthus arguing that population growth would outpace agricultural production, leading to widespread poverty and famine unless controlled by societal measures.

Thomas Malthus

An 18th-century British economist known for his theory on population growth, which posits that population increases geometrically while food supply increases arithmetically.