In a limited liability partnership (LLP), the death or withdrawal of a partner dissolves the partnership.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Use the information in the adjusted trial balance presented below to calculate the current ratio for Wicked Wicker Company: Account TitleDr. Cr.Cash$80,000? Accounts receivable 35,000? Prepaid insurance 14,200? Equipment 290,000? Accumulated depreciation-Equipment $145,000? Land 114,000? Accounts payable 36,000? Interest payable 7150? Unearned revenue 10,700? Long-term notes payable 87,000? Retained earnings 247,350? Totals$533,200? $533,200?
A. 2.30. B. 2.12. C. 0.42. D. 2.40. E. 2.14.
Which of the following is one of the advantages of the charismatic approach to leadership over the contingency approaches?
a. They focus on middle level managers. b. They show the importance of the task. c. They highlight the importance of the emotional links. d. They allow us to measure traits more accurately.
The Roger Company leased a machine at the beginning of 2016. The machine was properly capitalized by Roger at $73,735. A lease payment of $16,563 is due at the end of each year. The expected life of the machine is seven years, and the term of the lease is five years. At the beginning of 2021, the machine will be returned to the lessor. Both Roger and the lessor use the straight-line method of depreciation. What amount of depreciation expense should Roger record in 2016 for the machine (round calculations up to the nearest dollar)?
A. $14,600 B. $14,747 C. $16,563 D. $17,000
Which of the following are acceptable reasons for an employer to terminate a qualified retirement plan? 1. The employer is not profitable and cannot afford to make plan contributions. 2. The employer wants to reduce the cost of retirement benefits. As a result, the employer terminates a defined benefit plan and replaces it with a 401(k) plan.
a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2.