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In a ________-managed limited liability company (LLC), the members of the LLC have the right to manage the LLC.
- a)member
- b)partner
- c)self
- d)manager
Correct answer is option 'A'. Can you explain this answer?
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In a ________-managed limited liability company (LLC), the members of ...
Managed Limited Liability Company and Member's Right to Manage
Managed Limited Liability Company
A Managed Limited Liability Company (LLC) is a type of LLC where the members do not have the authority to manage the LLC. Instead, the LLC is managed by a designated manager or group of managers who are either appointed by the members or specified in the LLC's operating agreement.
Member's Right to Manage
In contrast, in a member-managed LLC, the members of the LLC have the right to manage the LLC. This means that the members can make decisions regarding the company's operations, finances, and other matters.
Choice between Managed and Member-Managed LLCs
When forming an LLC, the members must decide whether to create a managed or member-managed LLC. The decision will depend on the members' preferences and the nature of the business.
Advantages of Member-Managed LLCs
The advantages of a member-managed LLC include:
- Members have greater control over the company's operations and decision-making.
- Members have more direct involvement in the company's affairs.
- Members may have more flexibility in managing the LLC.
In conclusion, in a member-managed LLC, the members have the right to manage the LLC. This provides the members with greater control over the company's operations and decision-making.
Managed Limited Liability Company
A Managed Limited Liability Company (LLC) is a type of LLC where the members do not have the authority to manage the LLC. Instead, the LLC is managed by a designated manager or group of managers who are either appointed by the members or specified in the LLC's operating agreement.
Member's Right to Manage
In contrast, in a member-managed LLC, the members of the LLC have the right to manage the LLC. This means that the members can make decisions regarding the company's operations, finances, and other matters.
Choice between Managed and Member-Managed LLCs
When forming an LLC, the members must decide whether to create a managed or member-managed LLC. The decision will depend on the members' preferences and the nature of the business.
Advantages of Member-Managed LLCs
The advantages of a member-managed LLC include:
- Members have greater control over the company's operations and decision-making.
- Members have more direct involvement in the company's affairs.
- Members may have more flexibility in managing the LLC.
In conclusion, in a member-managed LLC, the members have the right to manage the LLC. This provides the members with greater control over the company's operations and decision-making.
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In a ________-managed limited liability company (LLC), the members of the LLC have the right to manage the LLC.a) memberb) partnerc) selfd) managerCorrect answer is option 'A'. Can you explain this answer?
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In a ________-managed limited liability company (LLC), the members of the LLC have the right to manage the LLC.a) memberb) partnerc) selfd) managerCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In a ________-managed limited liability company (LLC), the members of the LLC have the right to manage the LLC.a) memberb) partnerc) selfd) managerCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a ________-managed limited liability company (LLC), the members of the LLC have the right to manage the LLC.a) memberb) partnerc) selfd) managerCorrect answer is option 'A'. Can you explain this answer?.
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