Which of the following is true with respect to the distribution of assets following dissolution of a limited partnership?
a. Partners are paid before ex-partners for unpaid distributions.
b. Limited partners who are creditors are paid at the same priority as third-party creditors of the partnership.
c. The amount limited partners are paid for their partnership interests has no relation to the proportion in which they share in distributions.
d. Capital contributions are paid before unpaid distributions.
b
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The natural business year is a fiscal year that starts and ends at the time the stock of merchandise is normally at its lowest level
a. True b. False Indicate whether the statement is true or false
Implementing broad bands increases the opportunities for promoting employees.
Answer the following statement true (T) or false (F)
Which of the following statements regarding leases is false?
a. Lease agreements are a popular form of financing the purchase of assets because leases do not require a large initial outlay of cash. b. Accounting recognizes two types of leases—operating and capital leases. c. If a lessor classifies a lease as a capital lease, then the lessee records a lease liability on its balance sheet. d. If a lease is classified as an operating lease, the lessee records a lease liability on its balance sheet.
Which of the following is a major component of an organization's internal control structure?
a. Major new financing. b. The financial environment. c. Risk assessment. d. Telecommunication equipment.