SEC Rules 506(b) and 506(c) are known as exemptions. A. intrastate offering O B. nonissuer O C. interstate offering D. private placement A holding company is often referred to as a conglomerate. True O False The Tax Reform Act of 1976 created the Public Company Accounting Oversight Board (PCAOB). O A. True B. False Which of the following is correct regarding the management of a limited liability company (LLC)? A. A manager-managed LLC shares management powers between members and managers. B. An LLC nonmember can become a manager of the LLC. C. An LLC can be both member-managed and manager-managed simultaneously. D. LLC members cannot become LLC managers. The secret profits obtained by a director or officer cannot be recovered by a corporation. A True B. False