Which of the Following Is true in Regards to a Limited

question 214

Multiple Choice

Which of the following is true in regards to a limited liability company?

• A) Makes up 10% of business organizations in the United States.
• B) Combines the attributes of a partnership and a corporation.
• C) Provides tax and liability advantages to the owners.
• D) All are correct.

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Definitions:

Working Prototype

An initial version of a product that has enough features to allow for the testing and validation of core design concepts.

Invention

This is the creation of a new product, process, or idea that did not exist before.

Innovation

The introduction of something new, such as an idea, method, or device, that is designed to improve processes, products, or services.

Wide Imitation

The extensive replication of a product, service, or innovation by multiple competitors or industry participants, often signalling the success or desirability of the original.