Identify a true statement about a limited liability company (LLC).
A. A limited liability company can be taxed as a corporation only.
B. One of the owners of a limited liability company must be designated as a general partner with unlimited personal financial liability.
C. A limited liability company can have no more than 100 stockholders.
D. Only one of the owners of a limited liability company can participate in the management of the business.
E. A limited liability company can have more than one type of stock (ownership interest) outstanding.
Answer: E
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