Which of the following is a difference between limited liability companies (LLCs) and corporations?
A) Corporations can have any number of owners, whereas LLCs can have only a limited number of owners.
B) Corporations are not required to hold board meetings, whereas LLCs must hold regular board meetings.
C) LLCs are subject to fewer reporting requirements than corporations.
D) LLCs offer less flexibility than corporations in terms of tax treatment.

Question

Quizplus · Accepted Answer

LLCs generally have fewer reporting requirements compared to corporations, which are subject to more stringent regulatory and compliance obligations.

Which of the Following Is a Difference Between Limited Liability