Which of the following is TRUE of limited partners in a limited partnership?
A) They have limited liability for the debts of the business but their potential for profits is unlimited.
B) They usually have first claim to profits and losses made by the business.
C) They assume the same operational duties as that of the general partner.
D) They have to assume a liability beyond their contribution in the business in the event of a bankruptcy.
B) They usually have first claim to profits and losses made by the business.
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The top management of Tasty Foods, a food distribution company, has set strategic goals of increasing organizational market share and also decreasing corporate costs over the next three years. Greg, a division manager for Tasty Foods, has looked at his resources, and he has decided how his division can contribute to the two strategic goals set by upper management: (1) by partnering with another company and (2) by hiring a procurement manager to negotiate lower prices from vendors. Greg's next step is to roll out his ____ to his staff.
A. vision statements B. management guidelines C. codes of ethics D. tactical goals E. operational goals
The public relations function has become increasingly valuable in the international arena for the following reasons, except:
A) lack of sponsorship opportunities in many countries B) impact of terrorism and war has heightened sensitivities of many nations C) differences between cultures D) growing number of international firms
Tom makes pottery in his spare time. Jackie asks if he'd sell her a covered bowl. Later that day, he telephones her and says she can have it for $50 . She agrees, so he tells her he'll wrap it up for her and it will be ready in half an hour. Six days later, Jackie had not yet come for the bowl when a dog knocks the box off the shelf and breaks the bowl. Who is liable?
a. Tom, because Jackie had not yet received the bowl. b. Tom, because the bowl was in his possession when the dog broke it. c. Jackie, because she had identified the bowl. d. Jackie, because Tom had tendered the bowl to her nearly a week earlier.
Safety Window and Door Co. buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to $450,000 per year. On average, how much "free" trade credit does the firm receive during the year? (Assume a 365-day year, and note that purchases are net of discounts.)
A. $18,493 B. $19,418 C. $20,389 D. $21,408 E. $22,479