Asked by Karim velasquez on Apr 28, 2024
Verified
Often used as an alternative to a partnership
A) Proprietorship
B) Partnership
C) Corporation
D) Limited liability company (LLC)
Limited Liability Company
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Partnership
An authorized business structure where two or more partners manage and share in the profits.
- Distinguish the features unique to different business structures.
Verified Answer
YL
Yolanda LopezMay 02, 2024
Final Answer :
D
Explanation :
Limited liability companies (LLCs) are often used as an alternative to a partnership because they offer the same pass-through taxation and flexibility in management, but with limited liability protection for owners.
Learning Objectives
- Distinguish the features unique to different business structures.