Which of the following is true about choosing a limited liability company form of ownership?
A)It has no disadvantages except its newness.
B)It is ideal for a new company but difficult to convert to with an existing company.
C)It is inexpensive,easy to form,and covered by little regulation due to its newness.
D)It's an excellent conversion vehicle for existing businesses that are suffering from double taxation but problematic for sole proprietorships.

Question

Quizplus · Accepted Answer

While a limited liability company (LLC) is a popular choice for new businesses, it can be difficult to convert an existing company to this form of ownership. However, it offers numerous advantages such as limited liability protection for owners and flexible tax options.

Which of the Following Is True About Choosing a Limited