In Some States, to Form a Limited Liability Company, a Business

question 27

Multiple Choice

In some states, to form a limited liability company, a business must have

• A)a registered promoter.
• B)a designated founder.
• C)at least two members.
• D)a non-member manager.

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Definitions:

Willingness To Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting their valuation of it.

Trade Agreement

A contractual arrangement between countries regarding their trade relationships and tariffs.

Microeconomics

Branch of economics that deals with the behavior of individual economic units—consumers, firms, workers, and investors—as well as the markets that these units comprise.

Benefit

The advantage or profit gained from something.