A Business Entity Operated and Taxed Like a Partnership,but with Limited

question 28

Multiple Choice

A business entity operated and taxed like a partnership,but with limited liability for the owners,is called a:

• A) limited liability company.
• B) general partnership.
• C) limited proprietorship.
• D) sole proprietorship.
• E) corporation.

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Definitions:

Circular

Shaped like or nearly resembling a circle; having the form or attributes of a circle.

Differentia

The characteristic or set of characteristics that distinguishes one entity or concept from another within the same group or category.

Genus

In biology, a rank used in the classification of organisms that groups together species sharing common characteristics; in logic, it refers to a general term that describes a broad category.

Differentia

This refers to the traits or attributes that allow us to distinguish between different species within the same genus.