Which of the Following Is True About Choosing a Limited

question 65

Multiple Choice

Which of the following is true about choosing a limited liability company form of ownership?

• A)It has no disadvantages except its newness.
• B)It is ideal for a new company but difficult to convert to with an existing company.
• C)It is inexpensive,easy to form,and covered by little regulation due to its newness.
• D)It's an excellent conversion vehicle for existing businesses that are suffering from double taxation but problematic for sole proprietorships.

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Definitions:

"Is-a" Relationship

A concept used in object-oriented programming to describe an inheritance relationship between a subclass and its superclass.

Data Members

Variables that hold the state of an object in a class, typically private and accessed via getter and setter methods.

Superclass

A superclass is a class in object-oriented programming from which other classes inherit methods and attributes.

Superclass

A class from which a subclass inherits features, including fields and methods.