Answer the following statement(s) true (T) or false (F)
1. The managers of a limited liability company are personally liable for the company’s debts and obligations.
2. All members of a limited liability company must be individuals.
3. Amending the articles of organization usually requires the approval of all members of the limited liability company.
4. Limited liability companies in most states are subject to annual reporting requirements with the secretary of state or other appropriate state authority.
1. FALSE
2. FALSE
3. TRUE
4. TRUE
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While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "Nature & Nurture toys provide learning experiences that stimulate young children's senses and open up a world of discovery for the
of learners." This statement belongs in the ________ section of the marketing plan. A) company description, purpose, and goals B) marketing situation C) competitive overview D) measurement and controls E) forecasting
The Miracle Corporation issues $1,000,000, 10-year, 8% bonds at 96. The journal entry to record the issuance will show a:
A) debit to Discount on Bonds Payable for $40,000. B) debit to Cash of $1,000,000. C) credit to Bonds Payable for $960,000. D) credit to Cash for $960,000.
When the products and services have very different resource requirements and the mix is unstable from one period to the next, bottom-up planning works best
Indicate whether the statement is true or false.
Lyn files a suit against Karl. Karl denies Lyn's charges and sets forth his own claim that Lyn breached their contract and owes Karl money for the breach. Karl's claim is
a. counterclaim. b. motion for judgment on the pleadings. c. motion for summary judgment. d. motion to dismiss.