Which of the Following Is an Advantage of a Limited

question 8

Multiple Choice

Which of the following is an advantage of a limited liability company compared to a corporation?

• A)Unlike a corporation, the members of a limited liability company are not personally liable for the business's debts.
• B)Unlike a corporation, the members of a limited liability company need not file articles of organization with the state.
• C)Unlike a corporation, the members of a limited liability company cannot participate actively in management of the business.
• D)Unlike a corporation, the members of a limited liability company are taxed at the individual level only.

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Definitions:

Career Advancement

The process of moving up in one's professional life, often involving gaining new skills, promotions, and increased responsibilities.

Reduced Work Hours

A modification in the working schedule where the number of hours an employee works per week is lessened.

Top Managers

Individuals occupying the highest level of management in an organization who are responsible for setting strategic goals and making pivotal decisions.

Diversity

The inclusion of individuals with a wide range of characteristics and backgrounds, such as ethnicity, gender, age, sexual orientation, and beliefs, in a group or organization.