Which of the following statements regarding a limited liability company (LLC) is false? O A. An LLC is a legal entity created under state law. O B. An LLC may own property, incur debts, enter into contracts, and sue or be sued. C. In professional LLCs, members are relieved of liability for their own negligence. D. The LLC is an entity separate from its owners.

Which of the following statements regarding a limited liability company (LLC) is false? O A. An LLC is a legal entity created under state law. O B. An LLC may own property, incur debts, enter into contracts, and sue or be sued. C. In professional LLCs, members are relieved of liability for their own negligence. D. The LLC is an entity separate from its owners.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter18: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 5P

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