Which of the Following Is True of an LLC

question 37

Multiple Choice

Which of the following is true of an LLC?

• A) LLCs are the same as partnerships.
• B) LLCs have a choice of being taxed as either corporations or partnerships.
• C) LLCs are a legal form of business that have no flexibility regarding taxes.
• D) LLCs are the same as S-corporations.

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Definitions:

Immanuel Kant

A German philosopher in the 18th century, known for his works in epistemology, ethics, and aesthetics, particularly the philosophy of transcendental idealism.

Consequences

The outcomes or effects that result from specific actions or events.

Capabilities Approach

A normative framework proposed by Martha Nussbaum and Amartya Sen that emphasizes what individuals are able to do and be, in contrast to resources they have.