An advantage of a limited liability company (LLC) over an S corporation is that an LLC Blank______.Multiple choice question.may issue shares of stock to its membersextends liability beyond a member's capital contribution to the business, allowing unlimited liabilityrestricts any pass-through tax to its membersmay have tax advantages depending on the state in which the business operates

An advantage of an S corporation over a C corporation is that Blank______.Multiple choice question.capital gains or losses from the S corporation are considered personal income or losses by the shareholders on a pro rata basisthe S corporation involves more than 100 shareholdersthe S corporation must deduct all fringe benefits for shareholdersthe net loss of the S corporation is mostly limited to a shareholder's stock and loans to the business

Select all that applyIdentify the advantages of a limited liability company (LLC) over an S corporation. (Check all that apply.)Multiple select question.It can be formed by one or more individuals, corporations, partnerships, trusts, or other entities.Its owners are paid as employees of the company, and they are allowed to participate in all employee benefits.Its members are allowed to share income, profit, expense, deduction, loss and credit, and equity among themselves.It typically extends liability beyond a member's capital contribution to the business.

A major advantage of the corporate form of ownership is ______.Multiple choice question.limited legal liabilityease of formationlimited lifethat corporate earnings aren't taxed until they are distributed to owners as dividendsunlimited legal liability

The Blank______ combines the tax advantages and management flexibility of a partnership with the limited liability of a corporation.Multiple choice question.business trustlimited liability companyjoint stock companylimited partnership

Select all that applyWhich of the following is true about limited liability companies (LLCs)?Multiple select question.Venture capitalists typically give more preference to a C corporation than an LLC.Currently, regulations allow an LLC to be automatically taxed as a partnership.An LLC is also known as a sole proprietorship.An LLC is similar to an S corporation.