Which of the following is true of compensation offered by an LLC (limited liability company)?
A) Managers of an LLC are entitled to compensation and not benefits.
B) Members are not entitled to compensation for their services toward the LLC.
C) Members are not indemnified for liabilities in the ordinary course of business.
D) A nonmember manager of an LLC is not entitled to compensation.
D
You might also like to view...
A ________ identifies the topic of an illustration; however, an ________ calls attention to the conclusion that should be drawn by the data in the illustration
A) descriptive title; informative title B) decorative sidebar; integrated title C) descriptive heading; informative subheading D) descriptive legend; informational caption E) declarative caption; informational legend
The weakness of the cost-plus pricing method is that cost recovery is guaranteed to the selling division
Indicate whether the statement is true or false
In a period of rising prices, which of the following inventory methods generally results in the highest gross margin figure?
A) Cannot tell without more information B) LIFO C) FIFO D) Average-cost
In exchange for the rights inherent in an option contract, the owner of the option will typically pay a price
a. only when a call option is exercised. b. only when a put option is exercised. c. when either a call option or a put option is exercised. d. at the time the option is received regardless of whether the option is exercised or not.