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Author Question: Insolvency may be the basis for disallowing a creditor's claim against the estate. a. True b. ... (Read 59 times)

pragya sharda

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on: Aug 3, 2018
Insolvency may be the basis for disallowing a creditor's claim against the estate.
 
  a. True
  b. False

Question 2

What are the differences between a limited liability partnership and a limited liability company?
 
  What will be an ideal response?


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mrphibs

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Reply #1 on: Aug 3, 2018
Answer to Question 1

a

Answer to Question 2

A limited liability partnership (LLP) is a business organization providing limited
liability to partners without restrictions of limited partnership. Partners can participate
in the operation of the business. A limited liability company (LLC) is a business organization
providing limited liability to its owners, but not taxed as a corporation. The LLC is liable for its own debts but there is no personal liability on the part of the owners.


pragya sharda

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Reply 2 on: Aug 3, 2018
Great answer, keep it coming :)

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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