A company where privatization resulted from a leveraged buyout is more interested in which of the following situations?
A) creating more jobs for the community
B) generating profits and cash flow to pay down debt
C) plowing money into activities that will help gain market share
D) developing new products
B
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On January 1, Year 1, Naples purchased a computer system that cost $1,480,000. The estimated useful life of the computer is 3 years and salvage value is $40,000. Straight-line depreciation is to be used. On January 1, Year 2, Naples determined that the estimated useful life of the computer would be 4 years instead of 3 years. The estimated salvage value will only be $10,000.Prepare the journal entry to record depreciation expense for Year 1.Prepare the journal entry to record depreciation expense for Year 2.
What will be an ideal response?
Under the Commerce Clause, a state law that affects interstate commerce
a. is unconstitutional. b. could be allowed if the protected interest and the need to protect it outweighs the burden placed upon commerce. c. is allowed so long as it receives a vote of support in the United States Senate d. is constitutional provided that the law focuses on trade with foreign nations.
Vasili is considering forms of business organization for Vasili's Designs, an architectural firm. An advantage of a limited liability partnership is that partners may be able to avoid personal liability for
A. any partnership obligation. B. only other partners' wrongdoing. C. only partnership obligations that exceed capital contributions. D. only partnership obligations that fall within capital contributions.
Estate planning is important because it protects your family against major catastrophes and helps keep taxes to a minimum
Indicate whether this statement is true or false.