The type of business ownership that combines the benefits of a corporation and a partnership while avoiding some of the restrictions and disadvantages of those forms of ownership is a(n)
A) pseudo corporation.
B) open corporation.
C) limited-liability company.
D) quasi-government corporation.
E) not-for-profit corporation.

Question

Quizplus · Accepted Answer

A limited-liability company (LLC) combines the benefits of a corporation, such as limited liability, with the tax efficiencies and operational flexibility of a partnership.

The Type of Business Ownership That Combines the Benefits of a Corporation