For a Limited Liability Company with 100 Unrelated Owners

question 70

Multiple Choice

For a limited liability company with 100 unrelated owners:

• A) An election can be made to be taxed as a C corporation.
• B) An election can be made to be taxed as an S corporation.
• C) An election can be made to be taxed as a partnership.
• D) Only a. and c. are correct.
• E) a., b., and c. are correct.

---

Definitions:

Mental Representation

The mental imagery of things that are not currently seen or present, including abstractions such as ideas and concepts.

Event Contingencies

The relationship or dependency between certain events, where the occurrence of one event affects the likelihood of another.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed. It is thought to be one of the underlying causes of depression.

Seligman

A psychologist known for his work on learned helplessness, positive psychology, and theories on depression and wellbeing.