A Well-Designed Entrepreneurial Venture Bins with an Idea That Survives

question 69

True/False

A well-designed entrepreneurial venture bins with an idea that survives an analysis of its feasibility and results in a business model/plan.

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Definitions:

Operating Agreement

An agreement in which the members of a limited liability company set forth the details of how the business will be managed and operated.

Limited Liability Company

A company organization style that merges the protective limited liability of corporations with the advantageous pass-through taxation of sole proprietorships or partnerships.

State Law

consists of the laws and regulations enacted by the legislative bodies of individual states.

Passed Through

A term often used in finance and taxation to describe income, losses, or tax benefits transferred from one entity to another, such as in a pass-through entity.