Both general partnerships and limited partnerships
A. must include at least one limited partner.
B. must include at least one general partner.
C. are formed by filing a certificate with the secretary of state.
D. offer limited liability to all partners.
B. must include at least one general partner.
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A business's return on assets is ________
A) net profit multiplied by assets B) net profit divided by assets multiplied by 100% C) assets divided by net profit D) net marketing contribution divided by assets E) net marketing contribution multiplied by assets
When a company writes off an account receivable using the direct write-off method, the effect of this write-off on the financial statements is to
A) increase the net realizable value of accounts receivable. B) reduce total expenses. C) reduce total assets. D) increase working capital.
A DROP-error occurs when the company accepts a bad idea
Indicate whether the statement is true or false
GameStop sells only video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________
A) department store B) convenience store C) category killer D) specialty store E) off-price retailer