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Davina is a sole proprietor who is creating a single member LLC. Which statement is TRUE about the assets and liabilities of her business? A.
Davina is a sole proprietor who is creating a single member LLC. Which statement is TRUE about the assets and liabilities of her business?
A. All lenders will automatically transfer Daviana's existing debt to the LLC.
B. Davina may not convert the assets to personal use.
C. Davina should transfer the nonresidential real property she owns into the LLC name.
D. Davina should continue to use her personal bank accounts for the business.
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