An LLC That Was Organized in Alabama and Operating in Texas

question 46

Multiple Choice

An LLC that was organized in Alabama and operating in Texas with no operations outside the U.S.is considered a ________ in Texas.

• A)foreign limited liability company
• B)limited liability partnership
• C)domestic limited liability company
• D)general partnership

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Definitions:

Traditional Management Accounting

An approach to accounting focused on measuring financial information for managerial decision-making.

Budgeting Systems

Frameworks or processes used by organizations to plan, organize, and control their financial resources over a specific time period.

Financial Performance Measures

Measures that evaluate a firm's financial stability, encompassing evaluations of profitability, liquidity, and solvency indicators.

Cost Control

The process of monitoring and regulating the spending or costs within an organization.