A __________ combines the advantages of the sole proprietorship, partnership, and corporation.
A) partnership
B) limited liability corporation
C) proprietorship
D) limited liability partnership

Question

Quizplus · Accepted Answer

A limited liability corporation (LLC) combines the advantages of the sole proprietorship, partnership, and corporation. The owners of an LLC, called members, enjoy limited liability protection like shareholders in a corporation, while also being able to choose to be taxed as a partnership or sole proprietorship, providing flexibility in taxation.

A __________ Combines the Advantages of the Sole Proprietorship, Partnership