John Elliott and James Gardiner form a partnership to buy, repair and sell used cars. John is to do all the work; James supplies $10,000
They sign a limited partnership agreement limiting James's liability to $10,000 but do nothing else with the agreement. Which of the following statements is true?
A) A partners' liability can never be limited to $10,000
B) James's liability could be limited but the failure to publicly register the limited partnership makes the limitation ineffective.
C) James's liability is limited to $10,000 because he is a limited partner in the partnership agreement.
D) Both A and B
E) None of the above.
B
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Jane’s dad told her to empty the dishwasher before he got home from the gym or she would have a consequence. Jane felt that it was not her turn to do this chore and therefore watched TV instead. Jane’s dad received which outcome for his influence tactic?
A. compliance B. resistance C. adherence D. commitment
Enterprise size can inhibit innovativeness, enthusiasm and personal commitment. So perhaps strategy is best implemented by reorganizing the large enterprise into modestly-sized units that have clear, distinct missions that aggregate directly into the overarching mission? How practical is this proposition?
What will be an ideal response?
You are planning a vacation tour to Florida and trying to choose between the 5-day and 7-day package. You are using marginal analysis when
A) you decide the benefits from either package are worth their respective costs. B) compare the added benefits of the 7-day package to its added cost. C) you select one package over the other. D) you had the foresight to plan your vacation.
If the allocation base in the predetermined overhead rate does not drive overhead costs, it will nevertheless provide reasonably accurate unit product costs because of the averaging process.
Answer the following statement true (T) or false (F)