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Indicate whether the statement is true or false
FALSE
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Salespeople should familiarize themselves with the company's price, discount, and credit policies so that they can use them as a competitive advantage.
Answer the following statement true (T) or false (F)
To what degree a country's legal system is based on the rule of law makes no difference to international business; it is personal relationships that matter in foreign environments.
Answer the following statement true (T) or false (F)
In the context of legal forms of business, identify a true statement about limited liability partnership (LLP).
A. In a limited liability partnership, limited partners can work at the firm but not be active in its management. B. All partners in a limited liability partnership are jointly responsible for any debts or judgments against the firm. C. General partners in a limited liability partnership are indirectly responsible for federal taxes owed by the firm. D. Limited partners in a limited liability partnership must be external advisors who do not have a stake in the ownership of the firm.
Match each term with the correct statement below.
a. limited partnership b. master limited partnership c. joint venture d. syndicate e. business trust f. limited liability partnership g. S corporation h. limited liability company 1. Which type of organization provides all the benefits of a partnership, limits the liability of each investor to the amount of the investment, and allows anyone to participate in the management of the organization? 2. What is the type of partnership that sells units traded on a recognized stock exchange? 3. What is the association of two or more businesses for a particular purpose called? 4. Which form of business ownership has at least one general partner and one or more partners with limited liability? 5. Which form allows the transfer of legal title to a property of one person for the use and benefit of another?