Which types of partners in a limited partnership should participate in management?
A) General partners only, unless there are no general partners, and in that case, limited
partners participate in management.
B) General partners only.
C) Both general and limited partners.
D) Limited partners only.
B
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Exhibit 15-6 On January 1, 2016, 50 executives were given a performance-based share option plan that would award them with a maximum of 300 shares of $10 par common stock for $20 a share. On the grant date, the fair value of an option was $16.50. The number of options that will vest depends on the size of the annual average increase in sales over the next three years according to the following
table: Annual Average Increase in Sales No. of Shares Greater than 5% 50 Greater than 10% 150 Greater than 15% 300 On the grant date, the company estimates the annual average sales increase will be 14%. ? Refer to Exhibit 15-6. In 2017, the company determined that the actual annual average increase was 16%. The compensation expense for 2017 will be A) $123,750 B) $247,500 C) $82,500 D) $55,000
Determinants are useful in solving a set of simultaneous equations
Indicate whether the statement is true or false
The cost of options must be accounted for in the company's revenue statements
Indicate whether the statement is true or false
Fay, age 17, ordered a pair of skis on the installment plan. She paid $20 every month until she turned 18, the age of majority. The next day, she sold them to Sharon and disaffirmed the contract. Fay is:
A) still liable since she had to disaffirm before her 18th birthday. B) still liable because selling the skis amounts to a ratification. C) not liable because she disaffirmed the contract. D) not liable because skis are not necessaries.