Which Person Would Generally Be Treated as a Material Participant

question 69

Multiple Choice

Which person would generally be treated as a material participant in an activity?

• A) A participant in a rental activity.
• B) A limited partner.
• C) A LLC member not involved with management of the LLC.
• D) A general partner.

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Definitions:

Complementary Competencies

Skills that enhance or complete one another, often bringing added value when combined in a team or individual.

Mutually Accountable

The concept where every member of a team or group is responsible to each other for their actions, decisions, and performance.

Developmental Sequence

The order in which certain skills or abilities are typically acquired or developmental milestones are reached.

Performing

A stage in team development where the group operates efficiently towards achieving its goals.