Jeremy Is Considering Forms of Business Organization,including the Limited Liability

question 67

Multiple Choice

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

• A)an alter ego,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:

Price Ceiling

A legal maximum on the price at which a particular good can be sold.

Cocoa Bean

The dried and fully fermented seed from which cocoa solids and cocoa butter are extracted, essential in chocolate making.

Government Study

Research or investigation conducted by or on behalf of government agencies to inform policy decisions, evaluate programs, or gather statistical data.

Rent Control

Government-imposed limits on the amount landlords can charge for leasing homes or apartments, intended to keep housing affordable for renters.