A limited liability company is:
A) a limited partnership without limited partners.
B) just another name for a limited partnership.
C) a limited partnership without a general partner.
D) just another name for a corporation.
C
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Answer the following statements true (T) or false (F)
1. The control process begins with establishing standards. 2. Corrective action is a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards. 3. Bureaucratic control is most appropriate for an organization in which the tasks are explicit and certain. 4. Except for in rare instances, employees at George's Pro Painting take responsibility for their own work and how it is done, rather than being governed by a rigid set of rules. George's Pro Painting is using decentralized control.
Restraint of trade is the action that interferes with the political laws governing an economy
Indicate whether the statement is true or false
Last year Tiemann Technologies reported $10,500 of sales, $6,250 of operating costs other than depreciation, and $1,300 of depreciation. The company had no amortization charges, it had $5,000 of bonds that carry a 6.5% interest rate, and its federal-plus-state income tax rate was 25%. This year's data are expected to remain unchanged except for one item, depreciation, which is expected to increase by $750. By how much will net after-tax income change as a result of the change in depreciation? The company uses the same depreciation calculations for tax and stockholder reporting purposes.
A. -534.38 B. -562.50 C. -590.63 D. -620.16 E. -651.16
Which of the following events or transactions will not result in manufacturing overhead being applied to production?
A. Preparing financial statements when there is no work-in-process at the end of the period. B. Preparing financial statements when work is in process at the end of the period. C. Completion of a job in the current period that was started in the current period. D. Completion of a job in the current period that was started in a prior period.