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 owners to have limited liability.?
A. Only statement I is correct.
B. Only statement II is correct.
C. Both statements are correct.
D. Neither statement is correct.
Answer: C
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Mellon Corporation The data presented below is for Mellon Corporation for the year ended December 31, 2016: Sales (100% on credit) $1,500,000 Sales returns 60,000 Accounts Receivable (December 31, 2016) 250,000 Allowance for Doubtful Accounts [Credit Balance] (Before adjustment at December 31, 2016 3,000 Estimated amount of uncollectible accounts based on an aging analysis 31,000 Refer to the
information for Mellon Corporation. If Mellon uses the aging of accounts receivable approach to estimate its bad debts, what will be the net realizable value of its accounts receivable after the adjustment for bad debt expense? a. $216,000 b. $219,000 c. $222,000 d. $250,000
The largest area of practice, and most important, for public accountants is:
a. tax consulting b. tax preparation c. management consulting d. auditing e. record consolidation
In virtually all intentional tort cases, the person suing must prove an element of ____________________
Fill in the blank(s) with correct word
There are three forms of performance feedback interviews. In the tell-and-sell approach, the
A. employee tells his superior how he thinks he has performed and tries to sell the superior on how great he is. B. employee listens as the superior tells him how bad his performance over the past year has been, and then the superior attempts to get him to agree to leave the company. C. superior tells the employee what his perception of the employee's performance has been, and then the employee tries to sell him on his view of his own performance. D. superior tells the employee how great his performance has been, and then the superior tries to sell him on accepting a position in another department of the company. E. superior tells the employee how good or bad the employee's performance has been and then attempts to persuade the employee to accept this evaluation.