True or False:
A limited liability company (LLC) is taxed like a partnership but provides limited liability for itsowners, similar to a corporation.
True,
All the companies that we see on stock exchange are limited liability company, in the time of losses, the owners of these companies will only be required to take responsibility upto their share of investment in the company.
True or False: A limited liability company (LLC) is taxed like a partnership but provides limited...
liability company (LLC). Proprietorship Partnership Corporation LLC Attribute Present 1. Business taxed 2. Limited liability 3. Unlimited life No Yes
In which of the following ways is a limited liability company like a corporation? 0 A. It was created and developed first in the United States. O B. It can choose to be considered a partnership for tax purposes. O C. Its owners' liability is restricted to their investment. 0 D. It is directly managed by the owners.
A corporation that is taxed as a partnership is a: Answers: A. joint venture B. Subchapter S corporation C. limited partnership D. limited liability company A document that provides rules for corporation meetings is the: Answers: A. articles of incorporation B. bylaws C. proxy D. fiduciary responsibility
Which legal entity is paired with the owner(s) that do not have limited liability for the entity’s debts? A. LLC - LLC member-mangers B. Corporation – Shareholders C. General Partnership – Partner D. Limited Partnership - General partner E. Both Corporation - Corporation and Limited Partnership - General partner.
How are limited liability companies (LLCs) taxed? a. They are always taxed the same as corporations. b. They are taxed either as partnerships or as corporations, at the option of the LLC. c. They are always taxed the same as general partnerships. d. They are taxed either as partnerships or sole proprietorships, at the option of the LLC.
A Limited Liability Company (LLC) can be formed with only 1 member. True False QUESTION 11 The type of liability where every party is only liable for their pro-rata share of the indemnity is called: O Joint Liability Several Liability Joint and Several Liability All of the above QUESTION 12 The Financing form where a company sells the Accounts Receivable due from its customers is called: Account Receivable Credit Line Factoring Asset Backed Loan SBA Loan Indemnity is a sum...
for the first box for the entity can elect to be taxed as an (Limited Liability company, limited liability partnership, partnership, S corp) and for the second box there are forms (1065,1120,2553,8832) and lastly (corporations, limited liability partnership, limited liability companies, partnerships) Hoffman Microsoft Edge - 0 mato.com/StudentPlayerHomeworkshomeworld-5574996208question de 18 flushed ld-5863724¢erwin wye Corporate Tax (Spring 2020) Nick Hoffman & | 02/01/201:08 PM Save Homework: Chapter 2 Homework Score: 0.2 of 1 pt 2 of 21 (11 complete) * QC:2-4...
Consider each of the following forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and C corporation. Choose THREE of these forms, and develop a scenario in which each of these forms of business would be the preferred form. For each scenario, justify why the corresponding business form is preferred.
1. Which of the following statements is true? A. An advantage of a partnership is limited life. B. An advantage to a partnership is unlimited liability. C. A disadvantage of a partnership is that it is difficult to transfer ownership. D. A disadvantage to a partnership is double taxation. 2. Which of the following statements is true? A. A disadvantage of a corporation is limited liability. B. An advantage of a corporation is double taxation. C. An advantage of a...
True or false 10. A limited liability partnership is a legal gp 11. Live animals are freely imported and exported according to Chinese foreign trade law. 12. A foreigner could invest in exploration of rare earth in China. 13. A supermarket security man has the right to search a customer's purse who is suspected for theft. 14. It is permitted to sell commodity with lottery award which the top award is less than 50000 RMB yuan.