Philip and Deborah Form an LLC

question 44

Multiple Choice

Philip and Deborah form an LLC.Philip contributes $50, 000 capital, and Deborah contributes $75, 000 capital.They do not have an agreement as to how profits are to be shared.If the LLC makes $100, 000 profit in its first year, how will the profit be divided among the members?

• A)Philip gets $30, 000 and Deborah gets $70, 000.
• B)Philip gets $50, 000 and Deborah gets $50, 000.
• C)Philip gets $25, 000 and Deborah gets $75, 000.
• D)Philip gets $35, 000 and Deborah gets $65, 000.

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Definitions:

Generationally

Pertaining to or affecting a particular generation or generations, often in the context of family heritage or cultural changes.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates; including both natural and built environments.

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A term describing individuals or groups living in poverty or in financial situations that limit access to basic resources and opportunities.

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A form of insecure attachment where a child is overly dependent on caregivers and exhibits anxiety or distress when separated from them.