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  1. quizlet.com › 909795255 › accounting-for-limitedAccounting for Limited liability companies Flashcards | Quizlet

    Study with Quizlet and memorize flashcards containing terms like What is a LLC (limited liability company?), Why do LLC tend to become very large?, Advantages of Limited liability companies. and more.

  2. quizlet.com › 202066702 › limited-liability-companyLimited Liability Company Flashcards | Quizlet

    Definition. A limited liability company (LLC) is a type of business form combining attributes of both corporations and partnerships. It has TWO PRIMARY ATTRIBUTES: (1) the limited liability that shareholders of a corporation enjoy, AND. (2) the tax treatment of a partnership.

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  4. quizlet.com › 811859876 › accounting-test-2-flash-cardsAccounting Test 2 Flashcards | Quizlet

    True or False: The limited liability company may elect to be manager- managed rather than member managed, which means that only authorized members may legally bind the corporation. true. True or False: When a partner invests noncash assets in a partnership, the assets are recorded at the partner's book value. False.

  5. quizlet.com › 366681803 › limited-liability-companyLimited Liability Company- Accounting Flashcards | Quizlet

    Study with Quizlet and memorize flashcards containing terms like What is a limited company?, The capital?, How are profits distributed? and more.

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  7. quizlet.com › 863112351 › wk-1-practice-quiz-flash-cardsWk 1 practice quiz Flashcards | Quizlet

    quizlette8405679. Preview. Study with Quizlet and memorize flashcards containing terms like Which federal tax return does an LLC (Limited Liability Company) file?, Which of the following legal entities can use QuickBooks Online?, Financial statements include which of the following two? and more.

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