Which of the following statement(s) is (are) true?

a. a partnership may consist entirely of limited partners
b. a limited partner may exercise control over the business in proportion to his interest in it c. a limited partnership must have at least one general partner
d. all of the other specific choices are true e. none of the other choices


c

Business

You might also like to view...

Share development index is the ratio of ________

A) market share index and share potential index B) current performance and potential performance C) market demand and market share D) volume sold and market share E) current market demand and market potential

Business

Illies Corporation's comparative balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets:      Current assets:      Cash and cash equivalents$40,000 $33,000 Accounts receivable 19,000  21,000 Inventory 67,000  69,000 Total current assets 126,000  123,000 Property, plant, and equipment 358,000  339,000 Less accumulated depreciation 156,000  132,000 Net property, plant, and equipment 202,000  207,000 Total assets$328,000 $330,000 Liabilities and stockholders' equity:      Current liabilities:      Accounts payable$18,000 $19,000 Accrued liabilities 54,000  59,000 Income taxes payable 48,000  42,000 Total current liabilities 120,000  120,000 Bonds payable 82,000  86,000 Total

liabilities 202,000  206,000 Stockholders' equity:      Common stock 23,000  22,000 Retained earnings 103,000  102,000 Total stockholders' equity 126,000  124,000 Total liabilities and stockholders' equity$328,000 $330,000 The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $5,000 and its cash dividends were $4,000. The company did not issue any bonds payable or purchase any of its own common stock during the year. Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:  A. net cash provided by operating activities, $35,000; net cash used in financing activities, $(7,000) B. net cash provided by operating activities, $35,000; net cash used in financing activities, $(1,000) C. net cash provided by operating activities, $33,000; net cash used in financing activities, $(1,000) D. net cash provided by operating activities, $33,000; net cash used in financing activities, $(7,000)

Business

A taker of an instrument who is a holder in due course at the time of the transfer, but who thereafter learns of a defense: A) becomes a holder through a holder in due course

B) becomes an ordinary holder. C) remains a holder in due course. D) becomes an assignee.

Business

Dale Crutchfield's checking account had a balance of $1,100.65 at the beginning of the day. He used his debit card to pay the drycleaner $45.68. He also used his debit card to pay $1,345 for a new sofa and table. To cover the purchases, Dale transferred $500 to his checking account from his savings using his bank's ATM. What was the balance of his checking account at the end of the day?

Business