Which of the following statements is true with regard to the duties and liabilities in a limited partnership?
a. The general and limited partners have identical duties and liabilities.
b. A limited partner owes an utmost duty of care to members of the limited partnership.
c. The general partner of a limited partnership has a fiduciary duty.
d. A general partner is liable for business losses if she conducts the business prudently and in good faith.
c
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Southern Security makes safes for storing valuables such as jewelry and family records
When Ed sold safes for the company, he had to be prepared with a response when a prospect said, "I have no room for a safe" or "My family heirlooms aren't valuable enough to put in a safe". In other words, Ed had to ________. A) prepare several different closings B) use a canned sales presentation C) treat each sale as a transaction D) utilize cold calling E) anticipate objections
During _____, both the demand for money and the rate of inflation tend to fall, which prompts the Fed to take actions to decrease interest rates.
A. expansions B. a fiscal deficit occurrence C. recessions D. economic booms E. a foreign trade deficit occurrence
The statement "My supervisor is unfair" is an example of a(n) ________.
A. affect B. dissonance C. cognition D. All of the choices are correct.
The Marlow Corporation uses a standard cost system and applies manufacturing overhead to products on the basis of standard direct labor-hours. The denominator activity is set at 40,000 direct labor-hours per year. Budgeted fixed manufacturing overhead cost is $40,000 per year, and 0.5 direct labor-hours are required to manufacture one unit. The standard cost card would indicate fixed manufacturing overhead cost per unit to be:
A. $1.50 B. $1.00 C. $0.50 D. $2.00