A limited liability company is most like a(n)________.
A)general partnership
B)master partnership
C)sole proprietorship
D)S corporation

Question

Quizplus · Accepted Answer

A limited liability company (LLC) is most like an S corporation in that both offer the benefits of limited liability but are taxed differently than a traditional corporation. A general partnership is not similar to an LLC because partners in a general partnership are not protected from personal liability for the partnership's debts and obligations. A master partnership is not a recognized legal structure. A sole proprietorship is a business owned by one person, whereas an LLC is a separate legal entity with more than one owner.

A Limited Liability Company Is Most Like A(n)________