Which of the Following Is True of Liabilities of LLCs

question 69

Multiple Choice

Which of the following is true of liabilities of LLCs?

• A)Members of the LLC are liable to the extent of their capital contribution.
• B)Managers of LLCs are personally liable for the debts, obligations, and liabilities of the LLC.
• C)LLCs are not liable for any loss or injury caused by their employees.
• D)LLCs are not liable for losses caused due to negligence of their managers during the ordinary course of business.

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Definitions:

Fewer Errors

A reduction in mistakes or inaccuracies, often resulting in improved efficiency, quality, or performance in various contexts.

System 1

A term often used in psychology to describe the fast, automatic, and emotional way of thinking, as opposed to the slower, more logical thinking of System 2.

Decision Making

The process of selecting among alternatives to achieve a goal or solve a problem.

Fairness Concerns

Issues or discussions surrounding the equitable treatment, distribution of resources or opportunities, and justice in societal, economic, or individual contexts.