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In Working Families That Reside at the Top of the Stratification

question 32

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In working families that reside at the top of the stratification system:


Definitions:

Limited Liability

A legal status where a person's financial liability is limited to a fixed sum, most often the value of a person's investment in a corporation or partnership.

Management

The process of dealing with or controlling things or people, often within an organization.

Limited Liability Company

A commercial structure that amalgamates the limited liability protection of a corporation with the direct taxation approach of a partnership or sole proprietorship.

Articles Of Organization

The document that is filed with the appropriate state official, usually the secretary of state, when a limited liability company is formed.

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