Equal voice in controlling venture-related project

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Reference no: EM132190293

1. For federal income tax purposes, one-member limited liability companies are never taxed as

a. True b. False

2. Unless otherwise agreed, joint venturers have an equal voice in controlling a venture-related project.

a. true b. false

3. Members of a limited liability company can stipulate in their operating agreement provisions relating to dissolution.

a. True b. False

4. Joint venturers do not have the authority as agents to enter into contracts for the business that will bind the joint venture.

A. true b. false

5. Like the shareholders of a corporation, the owners of a limited liability company are liable for the obligations of the firm to the full limit.

a. True b. False

6. The job-shop process strategy is best for high-variety, low-volume systems including the production of one-of-a-kind items.

a. true b. false

Reference no: EM132190293

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