Which of the following statements regarding limited liability companies is true?
A) Just like S corporations, C corporations cannot be owners of an LLC.
B) Just like an S corporation, an LLC is restricted to 100 members.
C) Because LLCs are a relatively new organizational form, many tax questions concerning their operation have yet to be resolved.
D) Just like a limited partnership, only LLC members who are not actively involved in the entity's business activities have limited liability for the LLC's debts.
Correct Answer:
Verified
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