Jonathan and Sarah are forming an LLC. They will be its only members. Sarah and Jonathan know…

Jonathan and Sarah are forming an LLC. They will be its only members. Sarah and Jonathan know they have choices about how the LLC will be managed. If both agree to manage the LLC, it will be a: a partnership manager-managed LLC. member-managed LLC. a business trust ??6 15 Lon and Merry act as the incorporators for NuGame Corporation. After the first board of directors is chosen, subsequent directors are elected by a majority vote of NuGame’s: officers. incorporators. board of directors. shareholders. ??7 14 Dean starts up E-Sites, an Internet service, and leases office space in a building owned by Fred. The lease requires Dean to pay Fred a base rental of $250, plus 10 percent of E-Sites’ profits, each month. The term is two years. Dean hires Gina to work at E-Sites’ tech support desk at an hourly wage of $9.00, plus a commission of 10 percent of the profits. The term is also two years. Dean and Gina are: not partners, because the pay includes only 10 percent of the profits. not partners, because the pay includes an hourly wage. not partners, because Gina does not have an ownership interest or management rights in E-Sites. O partners in a partnership for two years. ??8 1 Which form of business has “double taxation”? O Partnership Corporation O Sole proprietorship Limited liability company