Jim Is Considering Forms of Business Organization, Including the Limited

question 61

Multiple Choice

Jim is considering forms of business organization, including the limited liability company (LLC) , for his business-Kettle Popt-Korn. Most states require that an LLC have​

• A) ​a corporate veil, but no minimum number of participants.
• B) ​at least one member.
• C) ​at least two members.
• D) ​at least one non-member manager.

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Definitions:

Disposable Income

Money left after taxes and social security contributions have been subtracted, which can be either spent or saved according to personal preference.

Aggregate Spending

The total spending in an economy, including consumption, investment, government expenditures, and net exports.

Discretionary Fiscal Policy

The deliberate manipulation of government purchases, taxation, and transfer payments to promote macroeconomic goals, such as full employment, price stability, and economic growth

Taxation

The practice by which a government imposes financial charges on its citizens or residents to fund public spending and various public expenditures.