Data Analytics, LLC, Is a Limited Liability Company

question 34

Multiple Choice

Data Analytics, LLC, is a limited liability company. Unless the articles of organization specify otherwise, it will most likely be assumed that the firm is​

• A) ​member-managed.
• B) ​manager-managed.
• C) ​an aggregate of member and non-member managers.
• D) ​run by an outside professional management group.

---

Definitions:

Two-Column Journal

A form of journal in which there are only two amount columns, one for debits and one for credits.

Unadjusted Trial Balance

A listing of all the accounts in the general ledger with their balances before any adjustments are made.

Net Income

The net income of a business following the deduction of all costs and tax obligations from its total revenue.

Unadjusted Trial Balance

A listing of all the accounts and their balances from a company's general ledger before any adjusting entries are made for accounting purposes.