Asked by ELIZABETH DELAROSA on Apr 23, 2024
Describe the limited liability company (LLC). How is it formed? What are some of its advantages and disadvantages?
Limited Liability Company
A Limited Liability Company (LLC) is a business structure that offers personal liability protection to its owners, along with tax and operational flexibility.
Formed
The process of creating or establishing something, often referring to the formation of a legal or structured entity such as a company or agreement.
Advantages and Disadvantages
A consideration of the positive and negative aspects of a particular decision, action, or strategy.
- Explain the structure and characteristics of a limited liability company (LLC).
Learning Objectives
- Explain the structure and characteristics of a limited liability company (LLC).
Related questions
A(n) ________ Is Created When Members for an LLC Decide ...
Grape Vineyards LLC, the Members of Which Include Howie and ...
A Limited Liability Company Is an Aggregate of Its Members ...
A ________ Is Owned by Shareholders Who Elect a Board ...
Which of the Following Is True About a Sole Proprietorship ...