Petra. Queenie, and Randall want to form Sales-to-Infinity, LLC (limited liability company). What should they provide in their operating agreement? If they fail to include some important operating details, what determines these details?
What will be an ideal response?
The provisions of a limited liability company operating agreement typically set out the firm's management, the division of profits, how membership may be transferred, what events cause dissolution, and so on. If there is no agreement, the applicable state statutes determine these issues. In the absence of a statute, the courts often apply the principles of partnership law.
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Robert performs sales activities such as prospecting, assessing the situation and determining the needs to be met, presenting the capabilities for satisfying these needs, and closing the sale. Robert is in which type of sales job?
A. creative selling B. order-taker C. missionary sales rep D. distributer E. provider
________ is a variable pay plan where payout depends not on company level performance such as profitability, but rather on performance at some subunit such as a plant or facility.
A. Merit bonus B. Individual incentive C. Gain sharing D. Profit sharing
Answer the following statement(s) true (T) or false (F)
1. Only federal, state, and local legislatures, combined with judicial decisions, form law. 2. State and federal agencies establish regulations that can be considered laws. 3. Jurisdiction is the legal right and power of a court to interpret and apply laws. 4. The U.S. Court of Appeals is the first court to hear a federal case. 5. The highest court of the land, the U.S. Supreme Court, is composed of five justices appointed by the president and confirmed by Congress.
An organization's goals focus on the end results the organization seeks.
Answer the following statement true (T) or false (F)