All of the following are advantages of the partnership form of organization except
A. unlimited liability.
B. retention of profits.
C. combined skills and knowledge.
D. better access to capital and credit.
E. ease of start-up.
Answer: A
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Net income for the year was $29,500 . Accounts receivable increased $2,500, and accounts payable increased$5,400 . There were no other changes in noncash current assets and liabilities. Under the indirect method, the cashflow from operations is $32,400
a. True b. False Indicate whether the statement is true or false
A C corporation has transferable ownership, which refers to the fact that:
a. a C corporation can change its structure at any time after the first year. b. it can issue stock in exchange for capital and can pass on to new owners. c. it can adapt to more employees as the company grows. d. it can be owned by an unlimited number of shareholders.
Barbur, Inc. reported net income of $28 million. During the year the average number of common shares outstanding was 4 million. The price of a share of common stock at the end of the year was $5. There were 800,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative.The Price/Earnings Ratio is approximately:
A. 0.71. B. 3.55. C. 7.00. D. 7.84.
To properly present a draft for payment, the holder must present it to the drawer.
Answer the following statement true (T) or false (F)