All members of a manager-managed LLC owe a duty of loyalty to the LLC
Indicate whether the statement is true or false
FALSE
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In preparing closing entries, which of the following columns of the work sheet are the most helpful?
a. Adjustments columns b. Income Statement columns c. Adjusted Trial Balance columns d. Balance Sheet columns
By law, all apartment buildings in the state where Mary lives must have smoke alarms in the ceilings. Mary suffers smoke inhalation because the smoke alarm in her apartment building was not yet installed. To win a negligence action against the building owner, Mary would have to prove:
a. a duty existed toward her. b. a breach of that duty. c. injury and causation. d. All of these.
A diagnosis of poor employee performance should focus on the three interactive elements of ability, motivation, and external conditions.
Answer the following statement true (T) or false (F)
Equipment costing $400,000 with accumulated depreciation of $260,000 is sold at a gain of $10,000. This implies that $130,000 cash was received from the sale.
Answer the following statement true (T) or false (F)