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