Which of the Following Is a False Statement Regarding a Manager-Managed

Multiple Choice

Which of the following is a false statement regarding a manager-managed limited liability company (LLC) ?

A) The managers of a manager-managed LLC have the apparent authority to enter into contracts on behalf of the LLC.
B) The managers of a manager-managed LLC have the actual authority to enter into contracts on behalf of the LLC.
C) In a manager-managed LLC,the members select a group of managers to manage the affairs of the company.
D) The managers of a manager-managed LLC must be selected from the members of the LLC.
E) The managers of a manager-managed LLC owe the LLC and its members the same fiduciary duties as the officers and directors of a corporation owe to the corporation and its shareholders.