Jay is a member of Kappa, LLC, a limited liability company. Jay is liable for Kappa's debts
A. in proportion to the total number of members.
B. to the extent of his investment in the firm.
C. to the extent that the other members do not pay the debts.
D. to the full extent.
Answer: B
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Cost of Goods Sold would not be found on a single-step income statement
Indicate whether the statement is true or false
JebSim Inc. was organized on June 1 and began business on August 10. JebSim elected a calendar year for tax purposes. The corporation incurred $25,160 of legal and other professional fees attributable to its formation. How much of these costs can JebSim deduct on its first tax return?
A. $5,560 B. $699 C. -0- D. $5,000
A method of planning and managing projects that are having difficulty due to lack of the resources required to execute project tasks best defines
A) quality functional deployment. B) fishbone diagram. C) critical chain project management. D) thought process map.
Small companies that have limited working capital or uncertain markets often prefer to use straight salary compensation plans.
Answer the following statement true (T) or false (F)