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1. quizlet.com › 909795255 › accounting-for-limitedAccounting for Limited liability companies Flashcards | Quizlet

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   ·. Created 16 mins ago. Terms in this set (20) What is a LLC (limited liability company?) A business that prevents individuals from being liable for the company's financial losses and debt liabilities. A business that prevents people from having to pay for the company's financial losses.

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   • Limited Liability Company Flashcards | Quizlet

     Definition. A limited liability company (LLC) is a type of...

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3. quizlet.com › 546422091 › accounting-limitedAccounting-Limited Liability Company's Flashcards | Quizlet

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   Study with Quizlet and memorize flashcards containing terms like Limited Liability Company, Limited Liability Advantages:, Limited Liability Disadvantages: and more.

4. quizlet.com › 366681803 › limited-liability-companyLimited Liability Company- Accounting Flashcards | Quizlet

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   Study with Quizlet and memorize flashcards containing terms like What is a limited company?, The capital?, How are profits distributed? and more.

5. quizlet.com › 861660334 › chapter-1-homework-flash-cardsChapter 1 Homework Flashcards | Quizlet

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   A limited liability company (LLC): Has owners called members. Is subject to additional business income tax. Includes a general owner with unlimited liability. Is the same as a corporation. Must have more than one owner.

6. quizlet.com › gb › 798277235ACCOUNTING FOR LIMITED COMPANIES Flashcards | Quizlet

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   Limited Liability is a form of legal protection for shareholders and owners that prevents individuals from being held personally responsible for their company's debts or financial losses. A business is a separate legal entity from the owners. Accounts must be published with Companies House.

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   What is the exact name of the limited liability company?

   • Exact name of the limited liability company:MYRTLE VILLAGE, LLC 1.b. The exact name of the limited liability company as amended, is:MYRTLE VILLAGE, LLC 2a. Location of its principal office:

   The Commonwealth of Massachusetts William Francis Galvin

   www.newtonma.gov/home/showpublisheddocument?id=37874

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   What is a limited liability company (LLC)?

   • A limited liability company (LLC) is a type of business form combining attributes of both corporations and partnerships. A limited liability company (LLC) is a type of business form combining attributes of both corporations and partnerships. By law neither the owners (members) nor the managers of an LLC are personally liable for any of its debts.

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   What is a low-profit limited liability company (L3C)?

   • An LLC may conduct business for any lawful purpose, for profit or not for profit, except insurance underwriting. A low-profit limited liability company (L3C) is a nonprofit LLC established with the primary goal of furthering a charitable of educational purpose. Certain groups of professionals may join together to form a professional LLC.

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   Who is responsible for managing an LLC?

   • Unless the management of the LLC is delegated to managers, ALL the members will manage the business, subject to any provision in the articles or a WRITTEN operating agreement restricting or enlarging the rights and duties of any member or class of members. Such an LLC will be deemed to be member-managed.

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