Which of the following statements is true in relation to a limited liability company? A A limited liability company can incur liabilities in its own name B A limited liability company cannot acquire assets in its own name C A limited liability company cannot incur liabilities in its own name D A limited liability company can be formed on an informal basis by simple agreement between the first sharehoplders
Which of the following statements is true in relation to a limited liability company? A A limited liability company can incur liabilities in its own name B A limited liability company cannot acquire assets in its own name C A limited liability company cannot incur liabilities in its own name D A limited liability company can be formed on an informal basis by simple agreement between the first sharehoplders
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements is true in relation to a limited liability company?
A A limited liability company can incur liabilities in its own name
B A limited liability company cannot acquire assets in its own name
C A limited liability company cannot incur liabilities in its own name
D A limited liability company can be formed on an informal basis by simple agreement
between the first sharehoplders
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