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1 year ago

an operating agreement is required for a limited liability company to exist, and it must be in writing. true false

Business

1 answer:

puteri [66]1 year ago

3 0

An operating agreement is required for a limited liability company to exist, but it need not be in writing.

A limited liability company's (LLC) operating agreement is a crucial document that outlines the company's financial and operational decisions, as well as its rules, laws, and requirements. The document's goal is to regulate the company's internal operations in a way that meets the unique requirements of the owners, referred to as "members," of the company. The limited liability company's members are legally obligated to abide by the conditions of the instrument once they have signed it. Only three states—California, Missouri, and New York—have laws requiring an operating agreement. The state's default norms, established by state court decisions and found in the applicable statute, apply to LLCs operating without an operating agreement.

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Sam, an engineer, supervises the construction of a new bridge. When the bridge collapses due to faulty construction, Sam is sued

aleksandr82 [10.1K]

Answer: Other Engineers.

Explanation:

Sam is held responsible for the bridge collapse based on his role as the engineer in charge of the project. As an engineer care has to be taken in making accurate calculations and design to ensure there are no accidents or failure as a result of poor design.

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4 years ago

In the long run, firms under monopolistic competition_____ A. Standardize their products. B. Face perfectly elastic demand curve

grigory [225]

Answer:

The correct answer is letter "C": Earn zero economic profit.

Explanation:

For markets that have many companies offering similar products or services, monopolistic competition exists. Restaurants, grocery stores, and clothing stores, for example. Such similar products or services are not ideal replacements for each other in monopolistic competition. In the short run, the economic profit of the firms is positive but in the long run, the economic profit approaches to zero.

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3 years ago

Which of the following describe categories of international employees? Group of answer choices expatriates, third country nation

Scrat [10]

Answer: Expatriate, third country national.

Explanation: An international employee is an individual who is employed to work in a company that is not in his country of origin.

International workers are most times referred to as expatriates. Expatriates are people who live and work in a country which is not their country of origin.

A third country national is an individual living in a country foreign to his, and applying for a visa to migrate to another foreign country. A third country can also fill in the category of an international worker.

6 0

3 years ago

You have been asked to estimate the market value of an apartment complex that is producing annual net operating income of $44,50

s2008m [1.1K]

Answer: indicated value of the subject property using direct capitaliation is = $390,351= $390,000

Explanation:The abstracted going-in capitalization rates from the four properties will be calculated using

The going-in cap rate which is first-year net operating income (NOI) divided by the initial investment or purchase price

For Comparable 1: 55,000/ 500,000= 0.110

Comparable 2: 50,400/420,000= 0.120

Comparable 3: 53,400/ 475,000=0.112

Comparable 4: 69,000/600,000= 0.115

Calculate the Simple Ave. we have 0.110+0.120+0.112+0.115/4= 0.114

The simple average of the four comparable cap rates is 0.114. Therefore the indicated value of the subject property is $390, 351 gotten from

($44,500 / 0.114) = $390,351= $390,000

8 0

3 years ago

Which describes the economic role played by a consumer?

julia-pushkina [17]

Answer:

uses goods and services

4 0

3 years ago