Which of the Following Is TRUE of a Limited Liability

question 91

Multiple Choice

Which of the following is TRUE of a limited liability company?

• A) A limited liability company is not obligated to file the articles of organization with the state.
• B) The owners of a limited liability company are personally liable for the business's debts.
• C) A limited liability company can elect not to pay business income tax.
• D) The owners of a limited liability company cannot participate actively in management of the business.

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Definitions:

Reliabilities

Reliability refers to the consistency and dependability of a system or process to perform its intended function under specified conditions over a certain period.

Backup

The act of copying data, files, or systems to a secondary location for preservation in case of failure or loss of the original.

Reliability

The measure of the probability that a system or component functions without failure under specified conditions for a specified period of time.

Functionality

Refers to the range of operations that can be performed by a product or a system.