Johnathan LLC Has a Term of Eight Years

question 39

Multiple Choice

Johnathan LLC has a term of eight years.It had only two partners,Jonathan and John,in its first five years of existence.It was not dissolved when John withdrew from membership in the sixth year.The LLC has continued its business and Johnathan has agreed to pay John,as per the provisions of the RULLCA.Consequently,Johnathan is obligated to pay John the value of his interest within:

• A)120 days after John's dissociation.
• B)90 days after John's dissociation.
• C)120 days after the end of the LLC's term.
• D)90 days after the end of the LLC's term.

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Definitions:

Truck Rents

Fees charged for leasing or renting trucks, typically used for transporting goods or materials.

Total Costs

The complete sum of all expenses incurred by a business in producing goods or services, including both fixed and variable costs.

Labor

Represents the human effort, both physical and mental, used in the production of goods and services.

Rent

The payment made for the use of a property, such as land, a building, or an apartment, typically on a monthly basis.