Which of the Following Is True of the Management of an LLC

question 30

Multiple Choice

Which of the following is true of the management of an LLC (limited liability company) ?

• A) Members cannot become managers of an LLC.
• B) A manager-managed LLC shares management powers between members and managers.
• C) A nonmember can become a manager of an LLC.
• D) An LLC can be both member-managed and manager-managed simultaneously.

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Definitions:

Contract

An agreement between two or more parties that is enforceable by law.

Patent

A legal right granted to an inventor, giving them exclusive ownership of their invention for a certain period.

Bankruptcy

A legal process that allows individuals or businesses unable to meet their debt obligations to either restructure their debts or liquidate assets under court supervision.

Intellectual Property

Legal rights that protect creations of the mind, such as inventions, literary and artistic works, designs, and symbols.