Which of the Following Is False with Respect to the Distribution

question 46

Multiple Choice

Which of the following is false with respect to the distribution of assets following dissolution of a limited liability company?

• A) Most statutes provide default rules for distributing the assets.
• B) Generally,assets are distributed first to creditors,including members and managers who are creditors,except with respect to liabilities or distributions.
• C) Generally,assets are distributed to members and former members in satisfaction of liabilities for unpaid distributions after distributions are made to creditors,including members and managers who are creditors.
• D) Generally,assets are distributed first to creditors who are not members or managers.

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Definitions:

Continuous Reinforcement Schedules

A method of learning that rewards a behavior every single time it is exhibited.

Reinforcement Theory

A psychological perspective focusing on how outcomes of behaviors affect the likelihood of those behaviors being repeated.

Focal Objects

Core items or subjects in a study or a field of interest that attract primary attention or analysis.

Physical Things

Objects or substances that have a tangible presence and can be perceived through the senses.