When a partnership and the other partners are held liable for a partner's tort, they may recover the amount of their ________ liability from the wrongdoing partner, but only if the partner fails to comply with ________.
A. joint and several; the fiduciary duty of care
B. vicarious; the fiduciary duty of care
C. joint and several; duty of loyalty
D. vicarious; duty of loyalty
Answer: B
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Which of the following is NOT developed during the master budgeting process?
a. human resource spending plan b. revenue and expenditure operating budgets c. capital expenditures budget d. financial budgeted cash flow, income statement, and balance sheet
The major real-world benefit of debt is that interest payments are:
A) made after tax considerations. B) a tax-deductible expense. C) always less than 10% of the firm's profit. D) smaller than the dividend payments.
Before the final version of a prospectus is approved by the SEC, the document is called a(n):
a. red herring b. preliminary prospectus c. initial prospectus d. ghost document e. shadow prospectus
Microsoft's Exchange/Outlook and Lotus Notes provide people with e-mail, automated calendaring, and online, threaded discussions, enabling close contact with others, regardless of their location. Identify the type of information system
A) collaboration system B) office automation system C) data mining and visualization system D) functional area information system E) geographic information system