A member of a manager-managed LLC (limited liability company) who is not a manager owes no fiduciary duty of loyalty or care to the LLC or its other members

Under the weighted-average method for inventory costing, the cost per unit is determined by ________

A) dividing the cost of goods available for sale by the number of units available B) dividing the cost of goods available for sale by the number of units in beginning inventory C) multiplying the number of units purchased with the weighted-average cost D) multiplying the cost of goods available for sale by the ending weighted-average cost of the previous accounting period

Joint venturers do not owe each other fiduciary duties of loyalty and care as they are not bound by a contract

Indicate whether the statement is true or false