To Create a Limited Liability Company, Creators Must Produce

question 371

Multiple Choice

To create a limited liability company, creators must produce:

• A) a corporate charter
• B) a partnership agreement
• C) nothing; they are like sole proprietorships
• D) shares of stock
• E) articles of organization

---

Definitions:

Production Budget

A financial plan that estimates the costs associated with the production of goods or services within a specified period.

Inventory Considerations

Inventory considerations involve managing stock levels to align with business needs, avoiding both excess and shortages while optimizing costs.

Projected Unit Sales

The estimated quantity of products a company plans to sell in a future period, often used for planning and forecasting purposes.

Credit Sales

Sales in which the customer is allowed to purchase goods or services on the agreement they will pay at a later date.