$11.$Alvin, Simon, and Theodore decided to form a business using the LLC form of organization. They sought the advice of the Law Dude. Dude should tell them that A$.$ they must file both articles of organization and an operating agreement with a central state agency and that an LLC combines tax characteristics of a corporation with the personal liability of general partnersB. they must file an operating agreement with a central state agency and that an LLC combines the tax characteristics of a corporation with the personal liability of corporate shareholdersC. they must file articles of organization with a central state agency, may also create an operating agreement and that an LLC combines the tax characteristics of a general partnership with the personal liability of corporate shareholdersD. they must file an operating agreement with a central state agency, may also create articles of organization and that an LLC combines the tax characteristics of a general partnership with the personal liability of general partners $12.$Slick was the sole shareholder and president of Slick, Inc., an equipment leasing company. The corporation had no separate bank account. Banking transactions were conducted through Slicks personal accounts, and employees were paid from them. Slick never consulted with other corporate directors. The corporation incurred significant debts, for which the creditors attempted to hold Slick personally responsible. Slick claimed that he was not personally responsible and that the creditors were attempting to disregard the corporate entity. A court most likely would hold Slick A$.$personally liable for the debts, because his assets were commingled with the corporation and the business had no separate identityB.personally liable for the debts because the business was failingC.not personally liable for the debts, because he had complied with the statutes regarding formation of his corporationD.not personally liable for the debts, because he did business as a corporation $13.$Boo Font is a limited partner in a limited partnership that owns a chain of beauty salons. Hedda Hair, the managing partner, is having trouble finding qualified people to run the operation. Boo would like to undertake some management responsibilities to temporarily ease the pressure until a suitable replacement can be found. If Boo does so$,$ she A$.$ will become a major partnerB. will become an accredited investorC. might forfeit her limited liability and become subject to personal liability for all partnership obligationsD. might forfeit her right of access to partnership books and other information $14.$The business judgment rule states that A$.$directors and officers are immune from liability for exercising poor business judgment in certain circumstancesB.directors and officers are never immune from liability for exercising poor business judgment, regardless of the circumstancesC.shareholders may be personally liable for the negligent torts committed by the directors of a corporation if these torts are the result of a lack of oversightD.directors may never be held liable for corporate harms or losses if they have attended board meetings and agreed to corporate actions $15.$All the following statements regarding the holding of the WTO dispute settlement body in United States $-$ Measures Affecting Cross$-$Border Supply of Gambling and Betting Services are true exceptA. The dispute settlement body authorized Antigua to retaliate against the United States by violating the intellectual property rights of U$.$S$.$ companiesB. The United States refused to comply with the dispute settlement bodys opinionC. Antigua claimed that the U$.$S$.$ restriction on cross$-$border trade in on$-$line gambling and betting services violated the commitment to normal trade relations contained within GATSD. Antigua claimed that the U$.$S$.$ restriction on cross$-$border trade in on$-$line gambling and betting services violated the commitment to national treatment contained within GATS