Which of the following is TRUE of a limited liability company?
A) A limited liability company is not obligated to file the articles of organization with the state.
B) The owners of a limited liability company are personally liable for the business's debts.
C) A limited liability company can elect not to pay business income tax.
D) The owners of a limited liability company cannot participate actively in management of the business.
C) A limited liability company can elect not to pay business income tax.
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Selected data from the accounting records of Webb Company are listed below: General & administrative expenses $2,200 Operating revenues $6,000 Selling expenses 1,800 Income taxes 600 Other revenues (expenses) 800 Dividends paid 1,200 Read the information about Webb Company. What is Webb's net income?
a. $ 1,600 b. $ 2,000 c. $ 2,200 d. $ 2,800
Traditional staples of employee communications have included all the following EXCEPT ________
A) bulletin boards B) suggestion boxes C) "town hall" meetings D) Delta lunches
Which of the following is an essential element of internal control?
A) Computerized accounting systems B) An outsourced internal audit function C) Procedures for proper authorization of transactions D) Verification by government agencies
Material Safety Data Sheets
A. replace the Hazard Communication Standard under federal employee safety law. B. are safety data collection instruments that were ruled illegal by the U.S. Supreme Court. C. are a primary method of informing employees about health risks and handling instructions associated with chemicals and potentially hazardous substances. D. are sheets used by transportation workers such as truck drivers to reduce absenteeism.