American_Bankers_Association
CTFA · Question #216
Michael Cohn is a "member" (a type of owner) of a marine supply business. Michael's business is:
The correct answer is C. A limited liability company. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
Michael Cohn is a "member" (a type of owner) of a marine supply business. Michael's business is:
Options
- AA sole proprietorship
- BA corporation
- CA limited liability company
- DA general partnership
How the community answered
(33 responses)- A12% (4)
- B3% (1)
- C79% (26)
- D6% (2)
Topics
#LLC membership#limited liability company#business entity types#ownership structure
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