Coco Is Considering Forms of Business Organization for Her Concessions

question 17

Multiple Choice

Coco is considering forms of business organization for her concessions business-Coco's Cupcakes.Most states require that a limited liability company have at least

• A)no minimum number of members.
• B)at least one member.
• C)at least two members.
• D)at least three members,including at least one general partner.

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Definitions:

Strategic Planning

A process for defining a company's direction and making decisions on allocating its resources to pursue this strategy, including its capital and people.

Operational Planning

The process of planning short-term actions and strategies to achieve goals and objectives set by strategic planning.

Budgeting

The process of creating a plan to spend your money, allowing an individual or organization to determine in advance whether they can afford the necessary expenditures.

Strategic Plans

Strategic plans are comprehensive outlines detailing an organization's goals, priorities, and actions designed to achieve long-term objectives.