Which of the Following Is False with Respect to the Distribution

question 46

Multiple Choice

Which of the following is false with respect to the distribution of assets following dissolution of a limited liability company?

• A) Most statutes provide default rules for distributing the assets.
• B) Generally,assets are distributed first to creditors,including members and managers who are creditors,except with respect to liabilities or distributions.
• C) Generally,assets are distributed to members and former members in satisfaction of liabilities for unpaid distributions after distributions are made to creditors,including members and managers who are creditors.
• D) Generally,assets are distributed first to creditors who are not members or managers.

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Definitions:

Conventional Marriage

A traditional matrimonial union between individuals, typically recognized by law and society.

Lesbian Couples

Two women in a romantic and sexual relationship with each other.

Satisfaction with Partnerships

The level of fulfillment or happiness one derives from their romantic or business partnerships.

Without Children

Referring to the absence of children in the context of an individual’s life, household, or demographic segment.