An Important Fact to Consider When Determining How to Organize

question 84

Multiple Choice

An important fact to consider when determining how to organize a business is that:

• A) members of an LLC have unlimited liability and are taxed like members of a partnership.
• B) for accounting purposes, a proprietorship is a distinct entity.
• C) the records of a partnership can include the partner's personal finances.
• D) the proprietor and the proprietorship are separate legal entities.

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Definitions:

Urinary Tract Infections

Infections occurring anywhere along the urinary tract, including the bladder and kidneys, often caused by bacteria.

Type 2 Diabetes Mellitus

A metabolic disorder characterized by high blood sugar levels over a prolonged period due to insulin resistance and relative lack of insulin.

Cephalexin

An antibiotic used to treat a wide variety of bacterial infections, particularly those involving the respiratory tract, skin, and urinary system.

Antidiarrheal Agent

A medication used to reduce the frequency of diarrhea or to slow the passage of stool through the intestine.