In a limited liability company the individuals who own the company are generally not personally liable for the company debts
a. True
b. False
a
Describe the characteristics of a limited liability partnership and a limited liability company.
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All of the following are typically recognized as accounting liabilities except:
a. Obligations with Fixed Payment Dates and Amounts b. Obligations under Mutually Unexecuted Contracts c. Obligations Arising from Advances from Customers on Unexecuted Contracts and Agreements d. Obligations with Fixed Payment Amounts but Estimated Payment Dates
Sales jobs differ from other jobs because sales jobs require:
A. limited human relation skills and interpersonal skills. B. no basic or intermediate computer skills. C. a sense of reciprocity by responding to a positive action with another positive action. D. more physical stamina and mental toughness than most other types of jobs. E. less creativity involving the discovery of new ideas.
Recommending what to buy in order to fill the needs of the customer is uncovered in which phase of your sales presentation?
A. Explain your business proposition B. Approach C. Suggest purchase order D. Present your marketing plan E. Close
Amortization of the premium on bonds payable is subtracted from net income in the reconciliation of net income to cash flows from operations because
a. interest expense understates the cash paid for interest by the amount of the premium amortization. b. it reduces income without causing a cash outflow. c. it increases income without causing a cash flow. d. it is a financing cash outflow.