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.

Recognize the ethical considerations in psychological research and practice.

Understand the significance of human behavior and mental processes in different contexts.

Identify the principles of humanistic psychology and its focus on personal fulfillment.

Understand the basic concepts and differentiation between correlational studies and experiments.

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Definitions:

Political Power

The ability or capacity of a person or group to influence the actions, beliefs, or conduct of others within a political framework.

President Chester A. Arthur

The 21st President of the United States, serving from 1881 to 1885, known for his efforts in civil service reform and the Pendleton Civil Service Reform Act.

Tariff Rates

Taxes imposed on imported or sometimes exported goods, with the aim of protecting domestic industries, generating revenue, or regulating trade.

Pendleton Civil Service Act

A federal law passed in 1883 that mandated positions within the federal government be awarded on the basis of merit instead of political affiliation, significantly curbing the spoils system.