Multiple Choice
The operating agreement must determine if the LLC is a member-managed LLC or a manager-managed LLC so that third parties can
A) Determine what the tax consequences each member will face at the end of the fiscal year.
B) Determine the financial stability of the LLC.
C) Determine who has the authority to make day to day decisions that bind the LLC.
D) Determine who has unlimited liability.
Correct Answer:
Verified
Correct Answer:
Verified
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