The Existence of an LLC Begins When the Articles of Organization

question 38

True/False

The existence of an LLC begins when the articles of organization are filed.

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Definitions:

Provincial Tax Rates

The percentage rate at which income, goods, services, and transactions are taxed by individual provinces or territories in Canada.

Net Capital Spending

Net Capital Spending is the total amount spent on acquiring or maintaining fixed assets minus any sales of fixed assets during a given period.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting the decrease in value of the asset over time.

Used Equipment

Pre-owned machinery or technology that may be purchased for business operations at a lower cost compared to new items.