A limited liability company ________.
A)is similar to an S corporation in that it is a cross between a partnership and a corporation
B)prevents owners who want to maintain their limited liability status from actively managing the company
C)can have a maximum of 50 owners
D)All of the above

Question

Quizplus · Accepted Answer

A limited liability company (LLC) is similar to an S corporation in that it combines elements of partnerships and corporations, offering limited liability to its owners while allowing for flexible management and tax benefits. However, unlike S corporations, LLCs do not restrict the number of owners and allow active management by owners.

A Limited Liability Company ________