The Limited Liability Company combines the worst features of partnerships and corporations and can be a poor choice for small businesses with a limited number of owners.

Question

Quizplus · Accepted Answer

This statement is false. Limited Liability Companies (LLCs) offer the protection from personal liability for business debts and obligations that is usually only available to corporations, while also providing the flexibility and tax advantages of a partnership. For many small businesses, an LLC is a good choice of business entity.

The Limited Liability Company Combines the Worst Features of Partnerships