Asked by Yassen Kafagi on May 25, 2024
Verified
The members of a limited liability company have considerable flexibility in managing the business of the firm.
Managing Business
The process of organizing, planning, leading, and controlling the operations of a business to achieve its objectives.
Limited Liability Company
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability protections of a corporation.
- Recognize the flexibility LLC members have in managing the business.
Verified Answer
AM
ARADIVA MARDHATILAMay 27, 2024
Final Answer :
True
Explanation :
Members of a limited liability company (LLC) have significant flexibility in how they manage the business, including the ability to structure management and financial arrangements in a manner that suits their specific needs, as outlined in the LLC's operating agreement.
Learning Objectives
- Recognize the flexibility LLC members have in managing the business.