Which of the following is an incorrect statement regarding limited liability company characteristics?
A) An LLC can sue or be sued.
B) An LLC can be found civilly and criminally liable.
C) LLC members have unlimited liability for LLC debts.
D) The LLC is a separate legal person under state law.
Correct Answer:
Verified
Q81: Only four states of the United States
Q82: Discuss the advantages and disadvantages of limited
Q83: Which of the following is a correct
Q84: How can a limited liability company (LLC)
Q85: Which of the following is a recognized
Q87: Steps involved in creating a limited liability
Q88: Unless an LLC has specified otherwise in
Q89: How does a limited liability company (LLC)
Q90: Issues addressed in an LLC operating agreement
Q91: Unless a limited liability company has specified
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents