Which of the following is a characteristic of a limited-liability company (LLC)?
A) An LLC's life is terminated at any member's choice or death.
B) Each member of an LLC is liable only for his or her own actions.
C) An LLC must have more than five members.
D) The earnings of an LLC are subject to double taxation.

Question

Quizplus · Accepted Answer

A characteristic of an LLC is that each member's liability is limited to their own actions. This means that members' personal assets cannot be seized to pay off the LLC's debts or legal obligations. The other options are not correct.

Which of the Following Is a Characteristic of a Limited-Liability