Which of the Following Is a Characteristic of a Limited

question 79

Multiple Choice

Which of the following is a characteristic of a limited liability company (LLC) ?

• A) It is a separate legal person (or entity) under state law.
• B) It cannot be found civilly liable for violations of law.
• C) Its owners are called directors.
• D) Its owners are personally liable to third parties for debts of the LLC.

Explain the unique aspects of labor relations in Asian countries and transitions in economic systems.

Discuss the implications of union participation in political agendas and social reform within labor relations systems.

Understand the limitations and challenges faced by workers and unions in various labor relations systems, including those in China and Eastern Europe.

Identify the characteristics of enterprise and sector bargaining within different labor relations frameworks.

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Definitions:

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Net Sales

The revenue a company earns from sales after subtracting returns, allowances for damaged or missing products, and discounts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that is expected to be uncollectible.

Percentage of Credit Sales Method

An accounting method used to estimate bad debt expense by applying a fixed percentage to the total credit sales of a period.