Members of Member-Managed LLCs and Manager-Managed LLCs Are the Same

question 17

Multiple Choice

Members of member-managed LLCs and manager-managed LLCs are the same in which of the following aspects?

• A)Control.
• B)Who has fiduciary duties.
• C)Liability.
• D)Whether the member is an agent of the LLC.

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Definitions:

Financial Crisis

A situation where the value of financial institutions or assets drops significantly, often leading to panic or economic downturn.

Employee Skills

Refers to the abilities and competencies that individuals possess, which enable them to perform specific tasks and roles effectively within a workplace.

Rewards and Incentives

Tools or benefits used to motivate individuals towards achieving certain goals or desired behaviors within an organizational context.

Work Teams

Groups of individuals who collaborate to achieve a shared goal or task, typically within a professional setting.