Managers of LLCs are not personally liable for the debts, obligations, and liabilities of the LLC they manage.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Splitter Corporation had total sales in the current year of $750,000 and credit sales of $650,000. The Accounts Receivable balance was $450,000 on the balance sheet date and the Allowance for Doubtful Accounts had a credit balance of $10,000 before adjusting entries. Bad debt expense is estimated as 2% of credit sales. The adjusting entry to record estimated bad debt expense would include a
A) $13,000 debit to Bad Debt Expense. B) $13,000 debit to Allowance for Doubtful Accounts. C) $13,000 debit to Bad Debt Expense D) $13,000 credit to Allowance for Doubtful Accounts.
Management decisions are based primarily on quantitative data because the qualitative factors are usually not relevant to the decision-making process
Indicate whether the statement is true or false
When using the needs approach, several "special needs" should be considered. One special need is money to cover unexpected events, such as major car repairs, dental bills, or home repairs. Money set aside for this purpose is called a(n)
A) estate clearance fund. B) emergency fund. C) readjustment period fund. D) mortgage redemption fund.
Michael has excellent oratory skills. He is well-spoken and very innovative. However, people are often distracted by his odd mannerisms while speaking, such as his constant foot movement, his slouched posture, and his habit of biting nails. In the given scenario, people get distracted because of _____ to communication.
A. perceptual barriers B. organizational barriers C. body language barriers D. physical barriers