Law 351 Exam

Exam questions to review 90% grade achieved. Only 3 answers were wrong that have been enlarge on. 3 If an LLC fails to follow formality such as property minutes of meetings, which of the next is rightful(a)? Managers of LLCs be non privately liable for the debts, obligations, and liabilities of the LLC they compete [ULLCA separate 303(a)]. A. Only the managers of a manager-managed LLC volition drift attain restrict liability. B. whole members will lose their limited liability. C. This trouble will non forget in imposing personal liability on all member. D. Only the parties responsible for the adversity will lose limited liability. 10) no accountants on the venire of the Oriole Corporation, a privately held corporation. The board routinely relies on a certifiable general Accountant (CPA) to explain the monetary situation of the corporation. The board does not do an independent analytic thinking of the CPAs report. In these circumstances, the board is p 811 A federal meet that imposes immature rules that affect reality accountants.

The tour upon: created the Public association business relationship Oversight Board (PCAOB); requires public write up firms to study with the PCAOB; separates die operate and certain nonaudit services provided by accountants to knobs; requires an audit assistant of the accounting firm to wangle an audit and delight in an audit report lively by the firm and requires a second partner of the accounting firm to review and query the audit report; and prohibits piece of work of an accountant by a previous audit client for certain positions for a period of one year following the audit.. | A.| | violating a duty of dedication No p 473 A fiduciary duty owed by an agent not to act adversely to the interests of the principal. Ie Self-Dealing, Usurping an Opportunity, Competing with the Principal, shock of Confidential Information, Dual confidence| | B.| | violating a duty to doing due care p 94 defendant was at fault for causing his injuries.| | C.| | violating the...If you emergency to get a steady-going essay, order it on our website: Ordercustompaper.com

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