Which of the Following Is False Regarding a Limited Liability

question 74

Multiple Choice

Which of the following is false regarding a limited liability partnership?

• A) A limited liability partnership is considered a separate legal entity.
• B) Limited liability partnerships are fairly new.
• C) The business name must include "Limited Liability Partnership" or an abbreviation in the name.
• D) The parties must file a form with the secretary of the state to create a limited liability partnership.
• E) Each partner pays taxes on his or her share of the income of the business.

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Definitions:

Maslow's Hierarchy

Maslow's hierarchy of needs theory in psychology posits that human motivation is driven by a sequence of five fundamental needs: physiological, safety, love and belonging, esteem, and self-actualization.

Esteem Needs

Psychological needs in Maslow's hierarchy that include self-esteem, respect from others, and status, contributing to feelings of self-worth and accomplishment.

Need Motivation Theories

Psychological theories that propose people are motivated by the desire to fulfill basic needs such as safety, belonging, and self-esteem.

Content Theories

Theories that explain why people have different needs at different times and how these needs motivate behavior, such as Maslow’s hierarchy of needs, Alderfer’s ERG theory, McClelland’s need theory, and Herzberg’s two-factor theory.