Although limited liability companies provide all of the owners with limited liability, these owners are not permitted to participate in the management of the business.

Question

Quizplus · Accepted Answer

This statement is false. In an LLC, owners (also known as members) can participate in the management of the business unless the operating agreement specifies otherwise. However, some states require that LLCs have at least one designated manager who is responsible for the day-to-day operations of the business.

Although Limited Liability Companies Provide All of the Owners with Limited