A limited liability company is most like the following organizations:
A)A sole proprietorship.
B)A general partnership.
C)A limited liability partnership.
D)A corporation.

Question

Quizplus · Accepted Answer

A limited liability company shares many characteristics with a corporation, such as limited liability for owners, flexible management structure, and the ability to raise capital through the sale of ownership interests. Both entities also require the filing of formal paperwork with the state in which they are formed. While a sole proprietorship and general partnership have unlimited liability for owners and limited formalities, a limited liability partnership is a hybrid between a general partnership and an LLC and has slightly different characteristics.

A Limited Liability Company Is Most Like the Following Organizations