Which of the following is NOT true about a limited liability company?
A) It is a noncorporate business organization.
B) In most states, an LLC must have at least two members.
C) It may elect not to be a separate taxable entity.
D) An ownership interest may be considered a security.
Correct Answer:
Verified
Q60: Which of the following is correct regarding
Q61: If Jack contributed $1000 as a limited
Q62: Describe an LLC and the rights of
Q63: The definition of a limited liability company
Q65: LLC statutes all require the articles of
Q66: The Elm Street Partnership is a limited
Q67: Discuss the duties of general partners to
Q68: What are the liabilities of a limited
Q69: What is the effect on liability of
Q70: Which of the following is NOT correct
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents