Asked by Lacey Nelson on May 18, 2024

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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.
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Verified Answer

AB
Alyssa BrownMay 22, 2024
Final Answer :
A
Explanation :
In a member-managed limited liability company (LLC), unless the members have agreed otherwise, all decisions regarding the firm's business are typically made by a majority vote of the members. This is the standard practice for member-managed LLCs, where the members themselves manage the day-to-day operations and make decisions collectively rather than having a separate board of directors or a chief executive officer making decisions.