Which of the following is true of profits and losses of an LLC (limited liability company) whose operating agreement does not contain profit or loss sharing clauses?
A) A member who invests 10 percent capital must bear 10 percent of the losses.
B) A member who invests 30 percent of the capital receives 30 percent of the profit.
C) A member who invests 40 percent of the capital receives 20 percent of the profit.
D) All members receive equal shares in profits regardless of the capital contributed.
D
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____________ are more emphatic than parentheses
a. Commas b. Hyphens c. Asterisks d. Dashes
A firm produces and sells a product with a contribution margin of $32 per unit. The firm is presently selling 90,000 units and earning $320,000 in pre-tax income. If the firm desires to increase its pre-tax income to $ 400,000, how many more units must it sell?
What will be an ideal response?
Anthem Corporation has excess cash to invest and pays $200,000 to buy 7%, five-year bonds of Richmond Corporation, at face value, on June 30, 2016
The bonds pay interest on June 30 and December 31. At the date of purchase, Anthem intended to hold the bonds to maturity. The bonds are disposed of, at face value, on June 30, 2021. Prepare the journal entry for (omit the explanation) June 30, 2021 (assume that the last interest payment has already been recorded). What will be an ideal response
Often high-risk decisions generate larger returns while conservative decisions generate lesser returns. From a financial management standpoint does this make sense?
What will be an ideal response?