A(n) ________ must carry large insurance policies to protect the public in case the partnership is found guilty of malpractice.
A) general partnership
B) S Corporation
C) limited liability partnership
D) C Corporation
C) limited liability partnership
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Which fraud is committed by an employee who doesn't record customer sales and pockets the payment?
a. Larceny b. Disbursement c. Skimming d. Illegal gratuities
LIFO assumes that inventory costs flow in the order incurred.
Answer the following statement true (T) or false (F)
A certificate of deposit is actually a loan by a depositor to a bank
Indicate whether the statement is true or false
In which of the following cases will the agency problem between shareholders and managers be the
greatest? A) The Johnson family owns 50% of the common stock of the company. The other 50% is owned by 5 mutual funds. B) 100% of the common stock is owned by the founder of the company who decided to retire and hired a manager to run his business for him. C) The common stock of the company is owned by many diverse shareholders, with no shareholder owning more than 1% of the outstanding stock. D) All top managers in the company own significant amounts of stock and stock options.