Which of the following is NOT true about a limited liability company?
A) It is a noncorporate business organization.
B) In most states, an LLC must have at least two members.
C) It may elect not to be a separate taxable entity.
D) An ownership interest may be considered a security.
Correct Answer:
Verified
Q41: The RULPA specifies the events that will
Q42: An LLC's limitation on liability will not
Q43: Typically, members of a limited liability company
Q44: Lonny is a partner in the Harris
Q45: The definition of a limited liability company
Q47: Which of the following is NOT correct
Q48: All statutes require LLPs:
A) to designate themselves
Q49: A general partnership that, by making the
Q50: Unless otherwise agreed, under RULPA, a limited
Q51: Members of member-managed LLCs and manager-managed LLCs
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