Formation of an LLC Requires the Filing Of

question 31

Multiple Choice

Formation of an LLC requires the filing of:

• A) a statement of qualification.
• B) a certificate of formation.
• C) a record of business creation.
• D) articles of organization.

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Definitions:

Financial Statement

Papers that present a summary of a company's financial status, covering the balance sheet, income statement, and statement of cash flows.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, which is used to increase the account.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, based on the accounting equation.

Financial Statement

Reports that summarize the financial performance, position, and cash flows of a business for a specific period.