单项选择题

Questions 177-180 refer to the following passage.
A limited liability company is the newest form of business organization; gaining popularity in recent years A limited liability company (LL(C) is a type of business ownership combining several features of corporation and-partnership structures But every coin has two sides LLC also have advantages and disadvantages.
Advantages:
Limited liability: Owners of an LLC have the liability protection of a corporation Members cannot be held personally liable for debts unless they have signed a personal guarantee.
Flexible profit distribution; Limited liability companies can select varying forms of distribution of profits.
No minutes: the LLC business structure requires no corporate minutes or resolutions and is easier to operate.
Flow through taxation: All the business losses, profits and expenses flow through the company to the individual members People avoid the double taxation of paying corporate tax and individual tax.
Disadvantages:
Limited life: Corporations can live forever, whereas an LLC is dissolved when a member dies or undergoes bankruptcy.
Going public: Business owners with plans to take their company public, or issuing employee shares in the future, may be the best served by choosing a corporate business structure.
Added complexity: running a sole-proprietorship or partnership will have less paperwork and complexity. An LLC may be classified as a sole-proprietorship, partnership, or corporation for tax purposes Classification can be selected or a default may apply. The word "guarantee" in Paragraph 2, Line 2 is closest in meaning to ______.