Which of the following features, or benefits, belong to a firm's common stockholders?
A) voting rights B) ownership of the firm
C) limited liability D) all of the above
D
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Most discretionary costs relate to
a. basic personnel costs. b. long term investments. c. service activities. d. plant and equipment acquisions.
Enforcing the terms of a consulting contract is an example of private law
Indicate whether the statement is true or false
Anyone who presents themselves as having knowledge about a product will be held to the UCC standard of a merchant, even if the person does not have skilled knowledge
a. True b. False Indicate whether the statement is true or false
When Danny withdrew from John, Daniel, Harry, and Danny, LLP, he was paid $80,000, although his capital account balance was only $60,000. The four partners shared net income and losses equally, and no revaluation will take place. The journal entry to record the effect on John's capital due to Danny's withdrawal would include:
A. $5,000 debit to John, Capital. B. $6,667 debit to John, Capital. C. $6,667 credit to John, Capital. D. $5,000 credit to John, Capital. E. $20,000 debit to John, Capital.