Which of the following statements is true of a limited liability company (LLC)?
A) It offers less flexibility than a corporation in terms of tax treatment.
B) It is by far the most common type of business organization in the United States.
C) It is a relatively new form of business ownership in the United States.
D) It is required to hold regular board meetings.

Question

Quizplus · Accepted Answer

LLCs are a relatively new form of business ownership in the U.S., gaining popularity in the late 20th century due to their flexible structure and tax benefits.

Which of the Following Statements Is True of a Limited