A provision in an LLC's operating agreement that provides for the continuation of the LLC upon the withdrawal of a member or other specified event is called a(n) ________.

A. continuation agreement
B. survivorship clause
C. anti-dissipation agreement
D. contingency proviso


Answer: A

Business

You might also like to view...

Caterpillar uses target-return pricing to set prices on its construction equipment, and justifies a higher price by showing lower lifetime operating costs

Indicate whether the statement is true or false

Business

Which of the following is true with regard to mail questionnaires?

A) The response rate of mail questionnaires is often very low. B) Mail questionnaires are highly flexible. C) The researcher has maximum control over the mail questionnaire sample. D) Mail questionnaires are unsuitable for collecting large amounts of information about respondents. E) Respondents always provide honest answers to personal questions on mail questionnaires.

Business

Answer the following statements true (T) or false (F)

Prior to ARB 38, the accounting procedure for lease payments was to record them as periodic revenues for lessors and as purchases of assets for lessees.

Business

________ power occurs where there are differing spheres of influence between parties.

A) Overt B) Integral C) Intercursive D) None of the above

Business