The limited liability company (LLC) allows entrepreneurs and small business owners to enjoy the same limited personal liability that shareholders in a corporation have while retaining the status of partners in a partnership
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TRUE
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Which inventory cost flow assumption is not allowed for financial reporting in many foreign countries?
A) specific identification B) average C) FIFO D) LIFO
The legality of distributions to stockholders is governed by federal law
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Helping verbs help the main verbs tell what the subjects in a sentence are doing
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Fact Patter 41-2APetro Drilling Corporation combines its assets and debts with those of Oil Refining Company to form New Energy, Inc.Refer to Fact Pattern 41-2A. New Energy acquires
A. all of Petro's and Oil's assets. B. half of Petro's and Oil's assets. C. none of Petro's and Oil's assets. D. only assets that Petro and Oil acquired after a combination was proposed.