All of the following are advantages of a limited liability company except:
A) They may offer different classes of membership.
B) There are no restrictions on the number and types of owners.
C) Owners do not assume liabilities for debt.
D) Transferring ownership is restricted.

Question

Quizplus · Accepted Answer

Limited liability companies (LLCs) offer several advantages, including the ability to have different classes of membership, no restrictions on the number and types of owners, and protection for owners from being personally liable for the company's debts. However, transferring ownership in an LLC can be more complicated than in corporations, as it often requires approval from other members, making it a disadvantage rather than an advantage.

All of the Following Are Advantages of a Limited Liability