Which of the Following Is an Incorrect Statement Regarding the Naming

question 72

Multiple Choice

Which of the following is an incorrect statement regarding the naming of a limited liability company (LLC) ?

• A) Selecting a name is an important step in creating an LLC.
• B) The words "Incorporated" or "Inc." must be used in naming an LLC.
• C) An LLC name is reserved by filing an application with the secretary of state.
• D) In the process of naming an LLC, it is necessary to determine whether the proposed company name is federally trademarked by another company.

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Definitions:

Direct Labor-Hours

The cumulative hours put in by workers directly engaged in manufacturing products or delivering services.

Labor Rate Variance

The variance between the real labor costs and the projected or normative labor costs.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on output levels.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost, based on standard prices and quantities.