Final answer:
A Limited Liability Corporation (LLC) is a popular business structure for new ventures and small businesses due to its blend of corporation-like liability protection and partnership-like taxation. It is not automatically taxed as a partnership but can choose to be. Its liability is limited, not unlimited.
Step-by-step explanation:
The correct answer is: D) had been the most popular choice of organization structure by new ventures and small businesses. A Limited Liability Corporation (LLC) is a business structure that protects its owners from personal liability for business debts, like a corporation, but allows the business income to be taxed on the owners' personal tax returns like a partnership or sole proprietorship. This combination of benefits makes LLCs a popular choice for small businesses and startups. Unlike option A, an LLC does have limited liability and regarding B, while an LLC is not automatically taxed as a partnership, it can choose to be taxed as one. Option C does not have enough supporting evidence to be universally true.
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