Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 03, 2023

Explain how an LLC can be managed. Explain the duty of loyalty to the different management options. How do LLC members share in profits? If

Explain how an LLC can be managed. Explain the duty of loyalty to the different management options.

How do LLC members share in profits? If they want to change the default way of sharing in profits, what document would they need to create?

Step by Step Solution

★★★★★

3.47 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

An LLC Limited Liability Company can be managed in a few different ways and the duty of loyalty varies depending on the chosen management structure 1 ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Integrative Approach

Authors: C J Mcnair Connoly, Kenneth Merchant

2nd Edition

099950049X, 978-0999500491

More Books

Students also viewed these General Management questions

Question

★★★★★

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★

Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...

Answered: 1 week ago

Question

★★★★★

Read the following article and answer the questions below: Building Competitive Advantage Through People Magazine: Winter 2002Research Feature January 15, 2002 Reading Time: 23 min Christopher A....

Answered: 1 week ago

Question

★★★★★

For the circuit in Fig. 8.115, use PSpice to obtain v(t) for 0 6 2 H 24 V 3 04Fv

Answered: 1 week ago

Question

★★★★★

The motion of a particle is defined by the relation x = t3 6t2 + 9t +5, where x is expressed in feet and t in seconds. Determine (a) When the velocity is zero, (b) The position, acceleration, and...

Answered: 1 week ago

Question

★★★★★

Contact the owner of a small business that competes directly with an industry giant, such as Home Depot, Wal-Mart, or Target.

Answered: 1 week ago

Question

★★★★★

An urn contains a > 3 white and k > 1 red balls. Suddenly, a ball disappears from the urn.We select two balls from the urn and check their color, to find out that they are both white. What is the...

Answered: 1 week ago

Question

★★★★★

Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: a. Compute MAD for each set of...

Answered: 1 week ago

Question

★★★★★

1. Cul de las siguientes afirmaciones sobre responsabilidades es verdadera? Deben surgir a travs de una obligacin contractual. El deber o responsabilidad obliga a la entidad. La entidad a menudo...

Answered: 1 week ago

Question

★★★★★

1. This question is a long free-response question. Show your work for each part of the question. Vo t =t Rocket X reaches its maximum height t = 0 t = t2 Rocket X reaches the ground Rocket X is...

Answered: 1 week ago

Question

★★★★★

If a company has days - sales - outstanding of 1 2 0 days, its accounts receivable turnover: Cannot be determined with the information given Is more than 1 2 0 Is approximately 3 Is also equal to 1 2...

Answered: 1 week ago

Question

★★★★★

What is Larmors formula? Explain with a suitable example.

Answered: 1 week ago

Question

★★★★★

Question 1: Discuss the causes and consequences of the Industrial Revolution in Europe. How did it transform European societies and economies? Question 2: (20 marks) Examine the causes, key events,...

Answered: 1 week ago

Question

★★★★★

A particle of mass $ m $ moves under the influence of a conservative force described by the potential energy function $ U(x) = \frac{kx^2}{2} $, where $ k $ is a constant and $ x $ is the...

Answered: 1 week ago

Question

★★★★★

A 2 kg block slides on a horizontal frictionless surface with a velocity of 4 m/s. It collides elastically with a stationary block of mass 3 kg. Determine the final velocities of both blocks after...

Answered: 1 week ago

Question

★★★★★

A satellite of mass 500 kg is orbiting Earth at an altitude where the gravitational acceleration is $ 7.5 \, \text{m/s}^2 $. Calculate the gravitational force acting on the satellite and the...

Answered: 1 week ago

Question

★★★★★

Sheridan Company sells goods to Carla Vista Company during 2 0 2 5 . It offers Carla Vista the following rebates based on total sales to Carla Vista. If total sales to Carla Vista are 1 0 , 3 0 0...

Answered: 1 week ago

Question

★★★★★

Write a while loop that uses an explicit iterator to accomplish the same thing as Exercise 7.3. Exercise 7.3. Write a for-each loop that calls the addInterest method on each BankAccount object in a...

Answered: 1 week ago

Question

★★★★★

On Your Own has two major divisions, Internet Sales and Direct Sales. It uses the work done by Computing and Development in the following ways. Please assign the costs of the supporting departments...

Answered: 1 week ago

Question

★★★★★

What are the primary features of a sound business case?

Answered: 1 week ago

Question

★★★★★

CalcOne makes small, solar-charged, 10-key handheld calculators from purchased parts. It is a manual operation consisting of three stages. Materials cost $1.25. Several back office employees handle...

Answered: 1 week ago

Question

★★★★★

In medical investigations, the ratio is often of more interest than the difference (e.g., individuals given treatment 1 are how many times as likely to recover as those given treatment 2?). Let ....

Answered: 1 week ago

Question

★★★★★

Using the traditional formula, a 95% CI for is to be constructed based on equal sample sizes from the two populations. For what value of will the resulting interval have a width at most of .1,...

Answered: 1 week ago

Question

★★★★★

Refer back to the previous exercise. a. By far the most frequently tested null hypothesis when data is paired is . Is that a sensible hypothesis in this context? Explain. b. Carry out a test of...

Answered: 1 week ago

Previous Question Next Question