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timmies timmies
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7 years ago
Gerard and Tony organize an LLC (limited liability company) by investing $55,000 and $45,000 respectively. The operating agreement states that profits are to be shared in the ratio of 55:45 between Gerard and Tony and makes no mention of sharing losses. The LLC incurs a loss of $100,000 in its first year. How is this loss shared?
A) Both Gerard and Tony have to pay $50,000 each.
B) Gerard pays $55,000, while Tony pays $45,000.
C) Gerard pays $45,000, while Tony pays $55,000.
D) Gerard and Tony are not liable for the losses of the LLC.
Textbook 
Business Law

Business Law


Edition: 9th
Author:
Read 139 times
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wrote...
#1
7 years ago
 A
 
timmies Author
wrote...
#2
7 years ago
Oh god, I was lost before coming here. Thanksss
wrote...
#3
7 years ago
Great, make sure you mark the topic solved, it hides it from other eyes Slight Smile
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