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Which of the following is an important distinguishing feature between a partnership and an LLC? A. An LLC is sanctioned by corporate law in the
Which of the following is an important distinguishing feature between a partnership and an LLC?
| A. | An LLC is sanctioned by corporate law in the state in which it is organized. | ||
| B. | The members of an LLC are jointly and severally liable for the debts of the organization. | ||
| C. | An LLC is formed under federal law. | ||
| D. | An LLC is a valid entity type in only 75% of the states. |
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Knowledge Audit Its Learning Lessons
Authors: Ajit Kumar
1st Edition
3659494836, 978-3659494833
