Quinsigamond Community College Corporation & Limited Liability Essay
Description
This week you have one task, namely to understand the difference between a corporation (otherwise known as an “Inc.” and a Limited Liability Corporation (otherwise known as a “LLC”). To that end you need to read Chapter 15 and Chapter 16 pages 357 – 371 in the course text (Emerson, W.R.J.D. (2015). Business Law (Barron’s Business Review). Barron’s Educational Services; Sixth edition).
Assignment:
In form of essay explain in detail:
1. The advantages and disadvantages of a corporation (Inc.).
2. The advantages and disadvantages of a limited liability corporation (LLC).
3. Explain the major differenced between an Inc., and a LLC.
4. Explain what a “S” corporation is and how it is formed.
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