Examlex
Which of the following is incorrect about water?
Member-Managed
Refers to a type of management structure in an LLC where all members participate in the decision-making processes.
Limited Liability Company
An enterprise configuration that amalgamates the individual taxation approach of sole proprietorships or partnerships with the capped liability advantages of a corporation.
Corporation
A legal entity that is separate and distinct from its owners, offering them limited liability and the ability to raise funds by selling shares.
Net Income
The profit remaining after all costs, expenses, and taxes have been subtracted from total revenue.
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