Which of the Following Is True of the Dissolution of a Limited

question 4

Multiple Choice

Which of the following is true of the dissolution of a limited liability company (LLC) ?

• A) The remaining members cannot avoid liquidation even by unanimously agreeing to continue the business operations.
• B) Dissolution can only be caused by bankruptcy.
• C) An LLC must be set up so that it can be easily dissolved.
• D) The act of dissolution terminates an LLC's business.

Distinguish between effective and ineffective practices in typing and formatting business messages.

Evaluate the success of communication through feedback and understand the role of proofreading in ensuring accurate and error-free messages.

Differentiate between editing and proofreading and understand the limitations of electronic grammar and spell checkers.

Understand the concept and purpose of common-size comparative statements.

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Definitions:

Buyer in the Ordinary Course

An individual or entity that purchases goods in good faith, within the normal course of business from a seller who is in the business of selling such goods.

Good Faith

A legal principle that emphasizes honesty, fairness, and integrity in the fulfillment of contractual and legal obligations.

Sale of Goods

A transaction involving the transfer of ownership of tangible personal property from a seller to a buyer for a price.

Tangible Personal Property

Physical items that can be owned and have value, such as furniture, jewelry, and vehicles.