Annual reports include _____ that disclose additional information about a firm's operations and special circumstances that clarify and supplement the numbers reported on the financial statements.
A) subpoenas
B) testimonials
C) notes
D) future projections
Question 2
With regard to limited-liability companies, which of the following statements is false?
A) Many experts believe that an LLC is nothing more than an S-corporation.
B) An LLC can have no more than 100 stockholders.
C) An LLC avoids double taxation.
D) An LLC provides limited-liability protection to the personal assets of the owners.
E) When compared to regular corporations, there are fewer government regulations that apply to LLCs.
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