Which of the following is true of capital contribution to an LLC (limited liability company)?
A) Capital contribution can only be in the form of money or tangible property.
B) Promissory notes are not considered capital contribution.
C) A member's obligation to contribute capital is excused by the member's disability or other inability to perform.
D) A member's obligation to contribute capital is not excused by the member's death.
D
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Elaborate on a situation where a leader could not use the rational decision-making process in practice, and why.
What will be an ideal response?
Teller Inc reported an allowance for doubtful accounts of $30,000 (credit) at December 31 . 2013 . before performing an aging of accounts receivable. As a result of the aging, Teller Inc determined that an estimated $52,000 of the December 31 . 2013 . accounts receivable would prove uncollectible. The adjusting entry required at December 31 . 2013 . would be
a. Doubtful Accounts Expense ........... 22,000 Allowance for Doubtful Accounts ... 22,000 b. Allowance for Doubtful Accounts ..... 22,000 Accounts Receivable ............... 22,000 c. Doubtful Accounts Expense ........... 52,000 Allowance for Doubtful Accounts ... 52,000 d. Allowance for Doubtful Accounts ..... 52,000 Doubtful Accounts Expense ......... 52,000
Why is it important to have a balance among the three behavioural controls?
What will be an ideal response?
Rianna left her job as a senior project developer at Seyall Industries. She was offered a position at RevSystems, developing similar products in the same market. Rianna is unable to accept RevSystems' offer for one year because of what provision?
A. Nondisclosure of information agreement B. Intellectual property agreement C. Noncompete agreement D. Nonpiracy agreement