Limited liability partnerships are designed to protect innocent partners from malpractice or negligence claims resulting from the acts of another partner.
Answer the following statement true (T) or false (F)
True
You might also like to view...
When a stock dividend of less than 20?25% is declared and the market value exceeds the par or stated value of the shares, an amount equal to the market value of the shares to be distributed should be charged (debited) to which of the following accounts?
a. Stock Dividends b. Stock Dividends Distributable c. Paid-In Capital in Excess of Par d. Capital Stock
Which of the following is not a basic sentence structure?
A) A passive sentence B) A simple sentence C) A compound sentence D) A complex sentence E) A compound-complex sentence
Answer the following statements true (T) or false (F)
1. The capital expenditures budget is completed before the preparation of the cash budget. 2. The financial budgets include the cash budget and the budgeted financial statements—the budgeted income statement and budgeted balance sheet. 3. For manufacturing companies, the primary source of cash is from its customers. 4. The last step in the preparation of the master budget is the budgeted income statement. 5. For a manufacturing company, the budgeted income statement is a cash basis income statement.
A major drawback of price competition is that
A. it lowers prices. B. it gains customers. C. customers equate lower prices with lower quality. D. competitors can also lower their prices. E. it generates brand loyalty.