A _____ is considered a legal entity separate from its owners that offers its owners limited liability for the debts of their business and more flexibility than a corporation in terms of tax treatment.
A) limited liability company
B) sole proprietorship
C) general partnership
D) limited liability partnership

Question

Quizplus · Accepted Answer

A limited liability company (LLC) is a type of business structure that is considered a legal entity separate from its owners. This means that the owners (also known as members) have limited liability for the debts and liabilities of the business, which helps protect their personal assets. Additionally, LLCs offer more flexibility than corporations in terms of tax treatment, as they can choose to be taxed as a partnership or as a corporation.

A _____ Is Considered a Legal Entity Separate from Its