LLC Statutes All Require the Articles of Organization

question 22

Multiple Choice

LLC statutes all require the articles of organization:

• A) to include in the name of the business the designation "limited liability company" or "LLC."
• B) to include whether the LLC will be managed by managers who may, but need not be, members.
• C) to be in writing and filed with the state.
• D) to include the name of the firm and the address of the principal place of business or registered office.

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Definitions:

Direct Materials

These are raw materials that are directly used in the production of a product and are easily traceable to the product itself.

Materials Inventory

The total cost of all the materials that are currently stored by a company and that will be used in production.

Raw Materials

The basic materials from which a product is made, usually referring to unprocessed or minimally processed substances used in manufacturing.

Manufacturing Cost Data

Information related to the expenses associated with the production process, including direct materials, direct labor, and manufacturing overhead.