Universities, hospitals, and churches are examples of which type of corporation?
A) stock companies
B) privately held companies
C) nonstock companies
D) publicly held companies
C
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The payment of interest expense will be depicted on the statement of cash flows as a:
A) cash inflow from an operating activity. B) cash outflow for an investing activity. C) cash inflow from a financing activity. D) cash outflow for an operating activity.
________ is a rule that limits a defendant's accountability to his or her equivalent degree of fault
A) Privity of contract B) Due diligence defense C) Proportionate liability D) Ultramares doctrine
Which of the following is an important part of the business description?
a. Establishing the purpose and scope of the simulation model b. Analyzing the results and generating recommendations c. Designing alternative scenarios d. All of the above
Identify which of the following statements is true.
A) Under the check-the-box regulations, an LLC that has one member (owner) may be disregarded as an entity separate from its owner. B) An unincorporated business may not be taxed as a corporation. C) A new LLC that is owned by four members elects to be taxed under its default classification (as a partnership) in its first year of operations. The entity is prohibited from changing its tax classification at any time in the future. D) All of the above are false.