Which of the following is true of an LLC?

Question

Quizplus · Accepted Answer

An LLC is regarded as a separate legal entity, which means it has its own legal identity separate from its owners or members. This limited liability protection ensures that the personal assets of the members are protected from any debts or obligations of the LLC.

Option A is incorrect because an LLC is governed by state law, not federal law. 
Option C is incorrect because an LLC can hold title to property, just like any other legal entity. 
Option D is incorrect because the owners of an LLC are called members, not general or specific partners.

Which of the Following Is True of an LLC