Which of the following is true about operating agreements for LLCs?
A) They are not required, but are recommended.
B) All LLCs must have them, but they need not be filed.
C) All LLCs must have one, and they must be filed with the articles of organization.
D) They must be in writing in order to be enforceable.
E) Member-managed LLCs must have one, but they are not required for manager-managed
LLCs.
A
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Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements—Interest Income (assume that cash received is equal to amount reported)—indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following:
a. Add to net income to arrive at net cash flows from operating activities b. Subtract from net income to arrive at net cash flows from operating activities c. Not used to adjust net income to calculate net cash flows from operating activities
When creating a presentation, make sure you display ____.
A. light text on a dark background B. dark text on a light background C. either a. or b. D. neither a. nor b.
For every unit of machine sold, the salespeople at Carlipis, a machinery manufacturer, are paid an amount of money over and above their salary. Given this information, the salespeople at Carlipis most likely received _____.
A. perquisites B. wages C. gratuities D. commissions
If a person wishes to join an existing partnership, all existing partners must agree to admit that person
Indicate whether the statement is true or false