.

Börjar få lite panik... ahh midterm idag och min professor är sååå sträng. Kollade precis på förra årets midterm och det var ganska krångligt. Även om det är svarsalternativ så rör han till det en hel del. Kolla dessa till exempel. 50 såna frågor! ahhhhh måste börja plugga!! Efter klockan fyra idag är jag friiiiii. kramar

17.  Which of the following is a reason to form a limited liability company rather 

than an S corporation? 

 A) There is no limit on the number of owners of a limited liability company, 

whereas the number of shareholders of an S corporation is limited. 

 B) All owners of a limited liability company have limited liability, but not all 

owners of an S corporation have limited liability. 

 C) A limited liability company can be formed without formalities such as filing 

papers with the state, whereas an S corporation requires papers to be filed with 

the state. 

 D) A limited liability company acts as a flow-through entity for income tax 

purposes, but an S corporation does not. 

36.  Thelma and Louise for an LLC for the purpose of operating road trip tours of 

the American southwest.  In the articles of organization, they state, “the term of 

this limited liability company shall last until our travel company has operated 

20 successful tours, at which point the term of this company shall end.” 

Thelma and Louise have formed: 

 A) A term LLC because it has a set ending date. 

 B) A term LLC because all LLCs are set to terminate, even though many are set to 

terminate far in the future 

 C) A term LLC because the event which terminates the LLC is reasonably able to 

be accomplished as of the time that the LLC is formed. 

 D) An at-will LLC because there is no specified time for the termination of the 

LLC. 

 E) An at-will LLC because any mention of an uncertain event in connection with 

the duration of an LLC causes the LLC to be at-will.