________ Refer to the Formal Documents That Must Be Filed

question 50

Multiple Choice

________ refer to the formal documents that must be filed at the secretary of state's office of the state of organization of an limited liability company to form the LLC.

• A) Operating agreements
• B) Certificates of interest
• C) Articles of organization
• D) Articles of amendment

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced.

AFC

Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced; a measure of economies of scale.

AVC

Average Variable Cost is the per-unit variable cost of production, which changes with the level of output.

Average Variable Cost

The cost per unit of output that varies directly with the volume of production, excluding fixed costs.