Which of the Following Statements,if Any,about an LLC Is False

question 147

Multiple Choice

Which of the following statements,if any,about an LLC is false?

• A)An LLC is usually taxed like a partnership.
• B)"Members" of an LLC generally have limited personal liability for debts of the LLC.
• C)"Members" of an LLC can participate in management of the LLC unless the member agrees not to participate.
• D)An LLC can specially allocate income items,as long as the substantial economic effect rules of § 704(b)are followed.
• E)None of the above statements is false.

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Definitions:

Online Experiments

Research studies conducted over the internet, allowing for the collection of data from a wide and diverse group of participants.

Causality

The relationship between cause and effect, where one variable is demonstrated to directly cause a change in another variable.

Attrition

The loss of participants from a study over time, which can impact the validity of research outcomes.

Study

The act of examining and investigating a subject in detail in order to discover new information.