Will,Mary,and Alice Form a Limited Liability Company and Do Not

question 122

Multiple Choice

Will,Mary,and Alice form a limited liability company and do not specify a term.Which of the following is true regarding the term of the limited liability company?

• A) The limited liability company is an "at-will" company.
• B) The articles of incorporation are invalid, because a term must be specified.
• C) The limited liability company has an implied term of ten years, which may not be renewed.
• D) The limited liability company has an implied term of ten years, which may be renewed.
• E) The limited liability company has an implied term of five years, which may be renewed.

Learn the implications of using ideal vs. currently attainable standards in budgeting and variance analysis.

Gain insight into nonfinancial performance measures and their uses.

Understand the principles of cost behavior and how it impacts managerial accounting.

Identify and define variable, fixed, and mixed costs.

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Definitions:

Unit-Specific Profiles

Information or data sets tailored to the specific characteristics or requirements of a particular unit or department within a healthcare setting.

Intravenous Catheters

Flexible tubes inserted into veins to administer medications, fluids, or to draw blood, often used in medical settings.

External Jugular

Refers to the external jugular vein, which runs superficially in the neck and drains blood from the head and neck.

Femoral Vein

A major blood vessel in the thigh that carries deoxygenated blood from the lower limb back to the heart.