A hybrid corporation-partnership similar to a Subchapter S corporation but with far fewer restrictions is called a ________
A) transnational company
B) limited liability company
C) private corporation
D) closely held corporation
B
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Budgeted financial statements:
a. allows managers to determine the effects of budgeting decisions on the company's financial statements. b. allows managers to determine the company's exact financial position at the end of the budget period. c. allows government to collect advance taxes. d. allows managers to determine the effects of their budgeting decisions on their compensation.
Managerial accounting can be used to calculate costs for service and merchandising companies
Indicate whether the statement is true or false
Ordinarily, "ignorance of the law is an excuse," or a valid defense to criminal liability.
Answer the following statement true (T) or false (F)
If the discount rate used to compare the present value of two annuities is 0%, then the timing of the cash flows is unimportant in the present value calculation
Indicate whether the statement is true or false