Who may legally obligate business in a LLC?
What will be an ideal response?
Answer: ordinarily any member; or any manager if manager-managed LLC
Business
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The economic entity assumption requires that the activities
A. Of different entities can be combined if all the entities are corporations B. Must be reported to the Securities and Exchange Commission C. Of a sole proprietorship cannot be distinguished from the personal economic events of its owners D. Of an entity be kept separate from the activities of its owner
Business
In a majority of organizations, salary increases, bonuses, and other forms of compensation are tied to the performance rating
Indicate whether the statement is true or false
Business