A Limited Liability Company Cannot Be Abbreviated as LC

question 64

True/False

A limited liability company cannot be abbreviated as LC.

---

Definitions:

Generic Business Strategy

A basic strategy for achieving competitive advantage that can be adopted by any firm, typically categorized into cost leadership, differentiation, and focus strategies.

Competitive Advantage

The attribute that allows an organization to outperform its rivals, gained through offering greater value to consumers or operating more efficiently.

Annual Business Plan

A yearly roadmap outlining business objectives, strategies, and actions to be undertaken to achieve the company’s goals.

Long-Range Marketing Plan

A strategic framework that outlines marketing objectives and strategies over an extended period, usually spanning several years, to achieve long-term business goals.