A Limited Liability Company Is an Aggregate of Its Members

question 17

True/False

A limited liability company is an aggregate of its members, not a separate legal entity.

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Definitions:

Psychological

Pertaining to the mind and mental processes, influencing or influenced by emotional and cognitive factors.

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow, categorizing human needs into five levels ranging from basic (such as physiological needs) to higher needs (like self-actualization).

Physiological

Pertaining to the field of biology focused on the regular operations of living beings and their components.

Self-actualization

Achieving one's full potential and talents, seen as a universal desire or drive.