Jim and Kiley are architects and members of J&K, P.C., a professional corporation. Jim supervises Luc, an employee of the firm. As a member, Jim
A. is personally liable for any tort committed by Kiley.
B. has limited liability for any of Kiley's acts of malpractice.
C. has no liability for any torts committed by Kiley or Luc.
D. may be personally liable for malpractice committed by Luc.
Answer: D
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Adams Company sells a product whose contribution margin is $10 and selling price is $25. If the company's break-even point is 100 units, its total fixed costs must be $500.
Answer the following statement true (T) or false (F)
Which of the following is widely used for large/complex projects with far-flung participants?
a. Fax-based communication systems b. Project management software c. Open-source project management tools d. Projects do not typically have participants that are located far from each other
A partnership agreement:
A) Cannot be implied from the actions of the partners. B) Must be an express agreement for all partnerships, but can be oral or in writing. C) Must be in writing for all partnerships. D) Must be in writing, but only for partnerships covered under the Uniform Partnership Act. E) May be created inadvertently based on the parties' conduct.
?Which of the following acts as a constraint on dividend payments?
A. ?Low cost of equity B. ?Non availability of investment opportunities C. ?Debt contract restrictions D. ?Removal of the impairment of capital rule E. ?Excess availability of cash