Which of the Following Methods Is Used to Appoint a Manager

question 48

Multiple Choice

Which of the following methods is used to appoint a manager of a manager-managed LLC?

• A)appointment by the secretary of state
• B)majority vote of the members
• C)unanimous vote of members
• D)unanimous vote of shareholders

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Definitions:

Inventory Period

The average time it takes for a company to convert its inventory into sales.

Cash Flows

The net amount of cash and cash-equivalents being transferred into and out of a business.

Controller

A senior financial officer within a company responsible for overseeing accounting operations, financial reporting, and internal controls.

Operating Cycle

The duration of time from the purchase of inventory to the collection of receivables from the sale of that inventory, critical for managing cash flow.