Which of the Following Best Defines the Duty of Care

question 13

Multiple Choice

Which of the following best defines the duty of care a member of a member-managed LLC must adhere to?

• A)the duty of not engaging in a known violation of law
• B)the duty of not usurping an opportunity of the LLC
• C)the duty of not competing with the LLC's business
• D)the duty of not engaging in undisclosed self-dealing

Compute gross profit, income from operations, and net income.

Understand the accounting treatment of purchase discounts, returns, and allowances.

Calculate the effects of inventory errors and their corrections on financial statements.

Identify and record transactions affecting net income and other comprehensive income under IFRS and GAAP.

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Definitions:

Doing Gender

The concept that gender is a performance or behavior that people engage in rather than only a fixed identity or biological reality.

Heterosexist

Exhibiting bias or discrimination towards non-heterosexual orientations, often by assuming heterosexuality as the norm.

Oppressed

A condition of being subject to unjust treatment or control, often involving the denial of fundamental rights.

Intergroup Bias Effect

The tendency to favor one's own group over other groups, leading to prejudice and discrimination.