What Is the Major Way in Which the Roles and Obligations

question 67

Multiple Choice

What is the major way in which the roles and obligations of the owners of a limited liability company differ from the roles and obligations of limited partners in a limited partnership?

• A) The owners of a limited liability company have personal obligation for debts incurred by the company.
• B) There is no separation between the company and its owners in a limited liability company.
• C) The owners of a limited liability company can withdraw from the company without the company being dissolved.
• D) The owners of a limited liability company can take an active role in running the company.

---

Definitions:

Services

Activities or benefits provided to consumers that do not result in the ownership of a tangible product.

Capital

Financial assets or the monetary value of assets, such as buildings and machinery, invested in a business to create more wealth.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Opportunity Cost

The economic impact of dismissing the next prime alternative while reaching a decision.