Similar to a corporation, all owners of a limited liability company (LLC):

A. have restricted debts.
B. are called stockholders.
C. are exempted from federal and state income taxes.
D. have the right to establish the company's mission.


Answer: A

Business

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Employees at Central Plains Bank were really impressed with Jeff, the new CEO. He was the first person who had fully developed a vision for the company about where it could go, and had energized everyone to try to get there. Jeff is a ______ leader.

A. servant B. transformational C. transactional D. shared E. laissez-faire

Business

______ conflict involves the conflict of ideas that generally leads to changes that improve performance.

A. Forcing B. Dysfunctional C. Collaborating D. Functional

Business

Withdrawals and additional investment by the business owner are reported on the:

a. income statement. b. statement of owner's equity. c. balance sheet. d. work sheet. e. all of the above.

Business

Identify and briefly discuss at least two examples of faulty oversight by a company's board of directors in corporate governance and/or the strategy-making, strategy-executing process.

What will be an ideal response?

Business