-Which of the following is a not true about an LLC? a. LLCs are not required to have a general partner. b. LLC members can participate in the management of the business. c. Taxable income and losses pass through to the owners. d. An LLC must have at least two members. Phil and Bill each own a 50 percent interest in P&B Interests. P&B Interests has ordi nary income for the year of$35,000 before guaranteed payments to Phil. If Phil receives guaranteed payments of $20,000 during the tax year, what is the total inco me or loss that should be reported by Bill from the partnership for this tax year? a. $5,000 income b. $7,500 income c. $25,000 income d. $30,000 income e. None of the above