1. Which of the following is an advantage to operating as an LLC

a)Members have limited liability

b)Double taxation is avoided

c)The number of members is unlimited

d)Single member LLCs can elect to be taxed as a corporation

e)All of the above are advantages

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2. Which of the following is true of an LLC?

a)It can only have one class of stock

b)It can only have 100 shareholders

c)It cannot have members who are non US residents

d)It is a flow through entity

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