Limited Liability Companies Are Formed Without Filing Formal Articles of Organization

question 40

True/False

Limited liability companies are formed without filing formal articles of organization with the secretary of state; in this sense, limited liability companies are easier to create than corporations.

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Definitions:

Manufacturing Overhead

All factory-related costs that are incurred during the manufacturing process, excluding direct materials and direct labor.

Factory Depreciation

The systematic allocation of the cost of a manufacturing plant over its useful life.

Advertising Budget

The financial allocation set aside by a business for promoting its products or brand.