Types of limited liability company - SS1 Commerce Past Questions and Answers - page 1
1
Which type of limited liability company (LLC) is owned by a limited number of individuals or entities and is not publicly traded?
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A
Private LLC
B
Public LLC
C
Partnership LLC
2
What is the main difference between a private LLC and a public LLC?
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A
Private LLCs have more regulatory requirements.
B
Private LLCs have publicly traded shares.
C
Public LLCs have a limited number of owners.
3
Which type of LLC offers its ownership shares to the general public through the stock market?
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A
Family-owned LLC
B
Public LLC
C
Partnership LLC
4
In a private LLC, ownership is typically restricted to:
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A
The general public
B
A few members
C
Shareholders
5
Which type of LLC is commonly used for small businesses, startups, and family-owned enterprises?
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A
Private LLC
B
Public LLC
C
Partnership LLC
6
What is the main difference between a private LLC and a public LLC?
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7
Which type of LLC is commonly used for small businesses, startups, and family-owned enterprises?
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