General partners are responsible for all debts of the business. They also run the risk of having to use their personal assets to pay creditors, or to settle lawsuits. This disadvantage is known as:
a. limited liability
b. double taxation
c. unlimited liability
d. lack of continuity
e. distribution of profits and losses
c. unlimited liability
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In terms of marketing expenditures, service companies tend to spend more on which of the following than manufacturers?
A) media advertising B) trade promotions C) consumer promotions D) direct marketing
Garmo Co has an operating leverage of 5. Next year's sales are expected to increase by 10%. The company's operating income will increase by 50%
Indicate whether the statement is true or false
To assure clarity and ease of readying, an effective writer should generally use sentences that follow the normal subject-verb-complement sequence to assure clarity and easy reading
Indicate whether the statement is true or false
Which of the following is a true statement about the current legal system?
A) It is based on certain unchanging laws, which have been handed down from Great Britain and carefully guarded. B) It is based solely on the primary ethical norm of freedom, which cannot be subordinated to other norms. C) It is based on statutes, which must be interpreted by legal scholars, who then impart their wisdom to judges and lawyers. D) It has evolved over the centuries through previous case decisions.