In the context of legal forms of business, a general partner in a limited liability partnership
A. is not responsible for liabilities owed if the firm goes bankrupt.
B. has unlimited liability for any debts or judgments against the firm.
C. is not active in the management of the firm.
D. acts as an independent external advisor to the firm.
Answer: B
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In deciding whether an organization will keep an old machine or purchase a new machine, a manager would ignore the
a. estimated disposal value of the old machine. b. acquisition cost of the old machine. c. operating costs of the new machine. d. estimated disposal value of the new machine.
A retailer selling fine pens can be positioned as a pen specialty store, an office supply store, a stationery store, or a novelty store
Indicate whether the statement is true or false
Most routine business messages require formal research
Indicate whether the statement is true or false
What type of wholesaler transports a limited line of products directly to customers for immediate inspection and selection?
A. On-site wholesalers B. Cash-and-carry wholesalers C. Rack jobbers D. Truck wholesalers E. Drop shippers