Which of the Following Statements Is TRUE for a Limited

question 34

Multiple Choice

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

• A)Members have unlimited liability for the debts of the business.
• B)Members have limited liability for debts only up to the extent of their investment in the LLC.
• C)Only the limited partners have limited liability for the debts of the business.
• D)Members are not taxed like members of a partnership.

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Definitions:

Prospective Clients

Potential customers who may be interested in a business's products or services in the future.

Informed Consent

A process ensuring that individuals are fully aware of and understand the potential risks and benefits associated with a particular action or decision, especially in the context of participating in research or receiving medical treatment.

Cultural Self-Awareness

An understanding of one's own cultural identity and how it can influence perceptions, values, and behavior.

HIPAA's Privacy Rule

A set of national standards designed to protect sensitive patient health information from being disclosed without the patient's consent or knowledge.