Which of the following best defines the term distributional interest?
A) the ratio in which profit is distributed among members of an LLC (limited liability company)
B) the process of distributing profits or losses according to the capital investment of the member with the interest
C) the constitution of management of an LLC based on the extent of each member's financial investment
D) a member's ownership interest in an LLC that entitles the member to receive distributions of money and property from the LLC
D
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Under the periodic inventory system, a physical inventory must be taken at the end of the period to determine cost of goods sold
a. True b. False Indicate whether the statement is true or false
The broker will advice the perspective buyer to sign the contract, and set a closing date for the sale of the house
What will be an ideal response?
Boulder Company had net cash flows of $150,000 from operating activities. It extended $60,000 for purchases of plant assets, sold plant assets for $5,000, and paid dividends of $70,000. The company's free cash flow is
A) $25,000. B) $50,000. C) $60,000. D) $75,000.
Faye owns the land on which Golden Spurs Ranch is situated, plus the ranch house, barn, and other structures permanently attached to the land. Faye's brother Huey owns everything else in the ranch's operation¾livestock, feed, and so on. The personal property is owned by
A. Faye and Huey. B. Faye only. C. Golden Spurs Ranch. D. Huey only.