Which of the Following Is True in Regards to a Limited

question 171

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:

Stocks

Shares of ownership in a company, representing a claim on part of the company's assets and earnings.

Fiat Money

Currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

The Euro

The official currency of 19 out of the 27 European Union countries, which forms a significant part of the world's economy.

Specialization In Production

The process by which individuals, businesses, or countries focus on producing a narrow range of goods or services to gain greater efficiencies.