In which form of business ownership are the owners called "members"?
A) general partnership
B) limited partnership
C) limited liability company
D) subchapter C corporation
E) C corporation

Question

Quizplus · Accepted Answer

In a limited liability company (LLC), the owners are called "members". In a general partnership, the owners are called "partners", while in a limited partnership, there is at least one "general partner" and one "limited partner". Subchapter C and C corporations have shareholders.

In Which Form of Business Ownership Are the Owners Called