The primary purpose of using a living trust is to avoid probate associated with using a will
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TRUE
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When a limited liability company is formed
a. the partnership activities are limited b. all partners have limited liability c. some of the partners have limited liability d. none of the partners have limited liability
The least important item to store off-site in case of an emergency is
a. backups of systems software b. backups of application software c. documentation and blank forms d. results of the latest test of the disaster recovery program
A text message should always include a salutation
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When a partnership is liquidated and the amount received from the sale of assets is more than the book value of the assets, the difference between cash received and the book value is treated as revenue to the partnership
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