Limited liability companies are primarily designed to:
A)allow a portion of their owners to enjoy limited liability while granting the other portion of their owners control over the entity.
B)provide the benefits of the corporate structure only to foreign-based entities.
C)spin off a wholly owned subsidiary.
D)allow companies to reorganize themselves through the bankruptcy process.
E)provide limited liability while avoiding double taxation.

Question

Quizplus · Accepted Answer

Limited liability companies (LLCs) are designed to provide their owners with limited liability protection while allowing them to avoid the double taxation that corporations face.

Limited Liability Companies Are Primarily Designed To