Identify which of the following statements is true. Question content area bottom Part 1...
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Accounting
Identify which of the following statements is true. Question content area bottom Part A Under the checkminustheminusbox regulations an LLC that has one memberowner may be disregarded as an entity separate from its owner. B A new LLC that is owned by four members elects to be taxed under its default classificationas a partnership in its first year of operations. The entity is prohibited from changing its tax classification at any time in the future. C An unincorporated business may not be taxed as a corporation. D All of the above are false.
Identify which of the following statements is true.
Question content area bottom
Part
A
Under the checkminustheminusbox regulations an LLC that has one memberowner may be disregarded as an entity separate from its owner.
B
A new LLC that is owned by four members elects to be taxed under its default classificationas a partnership in its first year of operations. The entity is prohibited from changing its tax classification at any time in the future.
C
An unincorporated business may not be taxed as a corporation.
D
All of the above are false.
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