What are the limits on transfer of ownership interests for an LLC?
What will be an ideal response?
Ans: Most LLC agreements require membership consent to admit new member
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Which of the following is not a common reason for differences between the book and the bank cash balances?
a. errors by the depositor; b. service charges; c. deposits in transit; d. outstanding checks; e. errors in billing customers
If the auditor decides that steps should be taken to prevent further reliance on the financial statements and audit report due to subsequent events after issuance of the audit report, the auditor should not try to obtain client cooperation, but should immediately notify any regulatory agency having jurisdiction over the client, such as the SEC, that the audit report should no longer be associated
with the client's financial statements. a. True b. False Indicate whether the statement is true or false
Flo's Flowers' current ratio is 1.3. The industry average for the current ratio is 1.2. This indicates that Flo's can cover its short term liabilities with its short term assets.
Answer the following statement true (T) or false (F)
You receive an email message from a co-manager concerning the negative performance of an employee. How do you respond?
a. Reply to the email, adding your comments to those of your co-manager. b. Forward the email to the employee. c. Meet with your co-manager and discuss the employee's weaknesses face to face. d. Forward the email to your supervisor for her comments.