Asked by Lacey Nelson on May 18, 2024
Verified
Accounting LLC is a member-managed limited liability company. Unless the members have agreed otherwise, all decisions with respect to the firm's business are made by
A) majority vote.
B) the firm's board.
C) the senior members.
D) the firm's chief executive officer.
Member-Managed
Pertains to an organizational structure, typically in LLCs, where all members participate directly in decision-making and management activities.
Majority Vote
A decision-making process where the option that receives more than half of the votes is chosen.
Business Decisions
Choices made by individuals or groups in the context of business operations that affect the organization's strategy and performance.
- Comprehend the procedures necessary for the establishment of Limited Liability Companies, including legal requisites and the influence of operating agreements.
Verified Answer
Learning Objectives
- Comprehend the procedures necessary for the establishment of Limited Liability Companies, including legal requisites and the influence of operating agreements.
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