Which of the following is a characteristic of a limited-liability company (LLC)?
A) An LLC's life is terminated at any member's choice or death.
B) Each member of an LLC is liable only for his or her own actions.
C) An LLC must have more than five members.
D) The income of members from an LLC is not taxed.
B
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Special journals take the place of subsidiary ledgers
Indicate whether the statement is true or false
Marketers have little information about how consumption patterns vary across and within countries
Indicate whether the statement is true or false
In the United States, the terminology "Most Favored Nation" is now referred to as:
a. Unconditional MFN trade. b. Conditional. c. Normal Trade Relations. d. Conditional National Treatment.
Which of the following statements is CORRECT?
A. Since depreciation is not a cash expense, and since cash flows and not accounting income are the relevant input, depreciation plays no role in capital budgeting. B. Under current laws and regulations, corporations must use straight-line depreciation for all assets whose lives are 3 years or longer. C. If they use accelerated depreciation, firms will write off assets slower than they would under straight-line depreciation, and as a result projects' forecasted NPVs are normally lower than they would be if straight-line depreciation were required for tax purposes. D. If they use accelerated depreciation, firms can write off assets faster than they could under straight-line depreciation, and as a result projects' forecasted NPVs are normally lower than they would be if straight-line depreciation were required for tax purposes. E. If they use accelerated depreciation, firms can write off assets faster than they could under straight-line depreciation, and as a result projects' forecasted NPVs are normally higher than they would be if straight-line depreciation were required for tax purposes.