Question

Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liability company and a limited liability partnership?
A. LLPs are not suitable for professional firms such as accounting, law, and architecture
B. Owned by single individual
C. Owners have limited liability and right to vote
D. Have corporate ownership structure
E. Taxed as a partnership
F. Limited financial liability

Answer 1

Answer:

C. Owners have limited liability and right to vote

D. Have corporate ownership structure

F. Limited financial liability

Explanation:

As we all know that the limited liability company and the limited liability partnership would be classified as a business structure as a separate entity also the owners would not be personally liable for all company dues

SO according to the given situation the following would be represent as a characteristic for both

hence, the rest of the options would be incorrect