Identify a true statement about limited liability companies (LLCs).
A. The owners of LLCs can elect to have the company treated as a partnership for tax purposes.
B. Unlike corporations, LLCs are required to hold regular board meetings.
C. Unlike S corporations, the owners of LLCs cannot include foreign investors and other corporations.
D. Most states permit banks, insurance companies, and nonprofit organizations to operate as LLCs.
Answer: A
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