Which of the Following Is/are Correct with Respect to Limited

question 20

Multiple Choice

Which of the following is/are correct with respect to limited liability companies (LLCs) ?
I.An advantage of an LLC when compared to a regular corporation is the ability to pass through tax attributes to owners.
II.A disadvantage of a general partnership when compared with an LLC is the inability of owners to have limited liability.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Ultimate Attribution Error

The tendency to attribute negative behaviors of an outgroup member to their character while attributing positive behaviors to situational factors.

Ingroup Actions

Refers to the behaviors and activities that are conducted by members within a specific group, often aimed at achieving the group's goals or maintaining its cohesion.

False Consensus Effect

Seeing our own behaviour as being more typical than it really is.

Inflated Grade

A grade that is higher than what would be justified by the student's actual performance, often resulting from grade inflation.