Question
Which of the following is/are correct with respect to limited liability companies (LLCs)? I. An advantage of an LLC when compared to a regular corporation
Which of the following is/are correct with respect to limited liability companies (LLCs)?
| I. | An advantage of an LLC when compared to a regular corporation is the ability to pass through tax attributes to owners. |
| II. | A disadvantage of a general partnership when compared with an LLC is the inability of partners to have limited liability. |
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| a. | Only statement I is correct. |
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| b. | Only statement II is correct. |
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| c. | Both statements are correct. |
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| d. | Neither statement is correct. |
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Financial Accounting
Authors: Anne Britton, Chris Waterston
4th Edition
0273703609, 978-0273703600
