Accounting Dictionary - Letter L

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Limited liability company
(also called LLC) is a type of business structure that is allowed by a state statute. In this business structure the owners have limited liability as in a corporation. The owners of a limited liability company are known as members (not partners or shareholders).
Go Back
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course:
Free Study Notes
Download free accounting study notes by signing up for our free newsletter (example):
First Name:
E-mail:
We never share or sell your e-mail to third parties.