Asked by Joshua Palesano on May 20, 2024
Verified
Discuss the characteristics of a limited liability company (LLC).
Limited Liability Company
An organizational form blending the direct tax system of a sole proprietorship or partnership with the reduced liability features of a corporation.
- Recognize the attributes of various types of business organizations.
Verified Answer
SC
Sir'Quora CarrollMay 24, 2024
Final Answer :
A limited liability company (LLC) combines the attributes of a partnership and a corporation. It is often used as an alternative to a partnership because it has tax and legal liability advantages for owners.
Learning Objectives
- Recognize the attributes of various types of business organizations.