Homework Answers
Answer: Option "C" is correct that says, "Its owners' liability is restricted to their investment"
LLC- It is the limited liability company that combines features of both Partnership and Corporation. In LLC, partners have limited liability and not personally liable for any type of company's debt.
Corporation- It is a separate legal entity that is separate from its owners. Owners have limited liability and obligation, they are not personally responsible for corporation's debt.
Add Answer to:
In which of the following ways is a limited liability company like a corporation? 0 A....
True or False: A limited liability company (LLC) is taxed like a partnership but provides limited...
True or False: A limited liability company (LLC) is taxed like a partnership but provides limited liability for itsowners, similar to a corporation.
Which of the following is a definition of limited liability? O A. Owners are not personally...
Which of the following is a definition of limited liability? O A. Owners are not personally liable for the debts of the corporation. OB. The owners investment in the business is limited to a certain percentage. OC. Owners are personally liable for the debts of the corporation. OD. Creditors' claims can be satisfied only by the assets of the corporation and the individual owners.
Question 21 1 pts Owners of a corporation are called Owners of a limited liability company...
Question 21 1 pts Owners of a corporation are called Owners of a limited liability company are called Question 22 1 pts If a plaintiff sues a partnership of seven (7) people and will be able to proceed in litigation against only five (5) people, for a valid judgment, what sort of liability must the jurisdiction apply?
for the first box for the entity can elect to be taxed as an (Limited Liability...
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...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
Extra Exercise: MCQ1 Is the concept of a company the same as limited liability? Choose the...
Extra Exercise: MCQ1 Is the concept of a company the same as limited liability? Choose the most appropriate response. a. Every entity created under legislation has automatic separate legal entity from its members and limited liability for its managers; this has always been the case b. Yes, every company has limited liability. The concept of a separate legal entity means that a company has limited liability for its debts and obligations c. The ability to create a separate legal entity...
Different forms of businesses have different characteristics. Which of the following characteristics would apply to a corporation?
4. Forms of business organizations Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics would apply to a corporation? Check all that apply. Owned by single individual Owners have limited liability Has unlimited life Chartered by a state and is its own legal entity separate and distinct from its owners and managers Easier to transfer ownership in the form of stock Exempt from double...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship,...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a limited liability company? Check all that apply. Might be an S corporation (a special case with a limited number of shareholders) Types of businesses that may adopt this form designated by states Owners with limited liability and possibly...
For question #4 accurately answer each of the following: Ch 01: Assignment-An Overview of Financial Management...
For question #4 accurately answer each of the following:
Ch 01: Assignment-An Overview of Financial Management Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply. Profits taxed only once, at the individual (personal) level can easily raise large amounts of capital Subject to unlimited liability You see and read...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship,...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply Profits taxed only once, at the individual (personal) level Subject to unlimited liability Can easily raise large amounts of capital You see and read about different kinds of businesses every day. The following...
Which of the following is a definition of limited liability? O A. Owners are not personally liable for the debts of the corporation. OB. The owners investment in the business is limited to a certain percentage. OC. Owners are personally liable for the debts of the corporation. OD. Creditors' claims can be satisfied only by the assets of the corporation and the individual owners.
Question 21 1 pts Owners of a corporation are called Owners of a limited liability company are called Question 22 1 pts If a plaintiff sues a partnership of seven (7) people and will be able to proceed in litigation against only five (5) people, for a valid judgment, what sort of liability must the jurisdiction apply?
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...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
Extra Exercise: MCQ1 Is the concept of a company the same as limited liability? Choose the most appropriate response. a. Every entity created under legislation has automatic separate legal entity from its members and limited liability for its managers; this has always been the case b. Yes, every company has limited liability. The concept of a separate legal entity means that a company has limited liability for its debts and obligations c. The ability to create a separate legal entity...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a limited liability company? Check all that apply. Might be an S corporation (a special case with a limited number of shareholders) Types of businesses that may adopt this form designated by states Owners with limited liability and possibly...
For question #4 accurately answer each of the following:
Ch 01: Assignment-An Overview of Financial Management Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply. Profits taxed only once, at the individual (personal) level can easily raise large amounts of capital Subject to unlimited liability You see and read...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply Profits taxed only once, at the individual (personal) level Subject to unlimited liability Can easily raise large amounts of capital You see and read about different kinds of businesses every day. The following...
Most questions answered within 3 hours.
-
Bargaining Models: what is the "Obsolescing Bargain"?
Bargaining Models: what are the factors that would tend...
asked 4 minutes ago -
1. A ball is thrown up into the air.
a) Draw motion diagram and the point-like...
asked 11 minutes ago -
1) Because money eliminates the "double coincidence of wants"
problem, the development of money as a...
asked 42 minutes ago -
Company AAA produces only one product which other manufacturers
purchase as a component for their final...
asked 3 hours ago -
An
item can be appended to an array-based list, provided the lenght is
less than the...
asked 3 hours ago -
Two particles each have a rest mass energy of 30 MeV and are
traveling with a...
asked 5 hours ago -
why
is vectorization a faster alternative to loops?
asked 6 hours ago -
General Matter’s outstanding bond issue has a coupon rate of
11.8%, and it sells at a...
asked 6 hours ago -
Write a one page essay on how important is it to know your basic
accounting knowledge...
asked 6 hours ago -
You are a Senior Civil Engineer posted at the Contracts and
Procurement Division of the Ministry...
asked 6 hours ago -
When using the percentage of completion method, the
company
- recognizes revenues and gross profit each...
asked 6 hours ago -
Is a level production strategy suitable for a pure service
industry, such as professional accounting and...
asked 6 hours ago