Asked by Joycelyn Acheampong on May 25, 2024
Verified
What is the process that allows limited liability companies to do business in states other than the state in which they were formed?
A) Cooperation
B) Qualification
C) Venturing
D) Syndication
E) Distribution
Limited Liability Companies
An organizational model that merges the direct tax benefits seen in partnerships or sole proprietorship with the benefit of reduced personal liability found in a corporation.
Qualification
The attributes, knowledge, or skills required to perform a particular job or activity, or the act of meeting such criteria.
States
Politically organized bodies of people under a single government, often referring to the constituent entities that make up a federal union, such as in the United States.
- Understand the procedures and legal obligations involved in the establishment and management of particular business entities in the United States.
Verified Answer
Learning Objectives
- Understand the procedures and legal obligations involved in the establishment and management of particular business entities in the United States.
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