Which of the Following Statements, If Any, About a Multi-Member

question 128

Multiple Choice

Which of the following statements, if any, about a multi-member LLC is false?

• A)A multi-member LLC is usually taxed like a partnership.
• B)"Members" of an LLC generally have limited personal liability for debts of the LLC, except for the managing member who has unlimited liability for LLC debts.
• 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.

---

Definitions:

Medical Records

Documents that contain the medical history, diagnostic information, and treatment details of patients.

Steroids

Organic compounds with four rings arranged in a specific molecular configuration, used in medicine and for performance enhancement.

Lurking Variables

Hidden or unobserved variables that can influence the outcome of an experiment or study without being explicitly considered.

Random Assignment

A method used in experiments to assign participants to different groups in a way that each has an equal chance of being placed in any group, aiming to eliminate bias and ensure that groups are comparable.