Like the Shareholders of a Corporation, the Owners of a Limited

question 71

True/False

Like the shareholders of a corporation, the owners of a limited liability company are liable for the obligations of the firm to the full limit.

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Definitions:

Minimum Data Set

A standardized set of core data elements that is collected on each resident in certain care settings, used to assess the functional capabilities and needs of the resident to help guide care planning.

Newly Admitted Resident

An individual who has recently entered a care facility, such as a nursing home or assisted living community.

Long-Term Care Facility

An establishment providing extended care for individuals who are unable to manage independently, typically due to age, disability, or chronic conditions.

Telephone Order

A directive given by a healthcare provider over the phone for patient treatment or medication.