Start-Up LLC Is a Limited Liability Company Without a Written

question 38

Multiple Choice

Start-Up LLC is a limited liability company without a written operating agreement. Among the members, a dispute arises concerning the division of profits. Under most LLC statutes, the profits will be

• A)distributed according to members' proportionate ownership in the firm.
• B)divided equally among the members.
• C)forfeited to the state.
• D)reinvested in the business until the dispute is resolved.

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Definitions:

Achieve

To achieve means to successfully reach a desired objective or result through effort, skill, or courage.

Written Report

A document that provides a detailed account or analysis of a subject or situation, often for formal purposes.

Face-to-face Conversation

Direct communication between individuals, physically present in the same location.

Anticipating

The act of expecting or predicting something based on current knowledge or trends.