The LLC Is Not Ordinarily Liable for the Wrongful Acts

question 32

Multiple Choice

The LLC is not ordinarily liable for the wrongful acts of:

• A)manager members in a member-managed LLC.
• B)nonmanager members in a manager-managed LLC.
• C)nonmanager members in a member-managed LLC.
• D)manager members in a manager-managed LLC.

Appreciate the impact of leadership on company performance relative to other factors.

Analyze the dynamics of effective followership and its contribution to leadership.

Understand the concept and purposes of sales promotions and identify their temporary nature and impact on sales.

Recognize direct marketing as a promotional alternative that uses direct communication with consumers to generate specific responses.

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Definitions:

Open Market

An economic system with no or minimal barriers to trade, where prices are determined by supply and demand forces without significant regulation.

Variable Interests

Interests in an entity that change with fluctuations in the entity's net asset value, income, or cash flows.

Residual Profits

Profits remaining after all costs, including capital costs such as interest on loan capital and equity capital, have been deducted.