Which of the following is true of a limited liability company?
A) It is taxed as a corporation and not as a partnership.
B) It is taxed under state laws and not under federal laws.
C) Its members cannot exercise any control over the daily management.
D) It can have any number of members.
D
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Overhead costs decrease the Work in Process Inventory account
Indicate whether the statement is true or false
In the context of financial budgets, the capital expenditure budget:
A. provides quarterly estimates of the number of units of each product a firm expects to sell. B. identifies a firm's planned investments in major fixed assets and long-term projects. C. identifies short-term fluctuations in cash flows that display cash deficits and surpluses. D. contains the budgets for direct labor, direct materials, and overhead costs.
When two firms merge, they must notify the Antitrust Division of Justice or the FTC of their plan to merge under the:
a. Clayton Act b. Lanham Act c. FTC Act d. Norris-LaGuardia Act e. none of the other choices
The Pratt Company earned $140,00 . last year. The capital stock of the company consists of $600,00 . of 8% cumulative preferred stock and $600,00 . of common stock. The directors declared a dividend of half of the earnings. During the previous year, the company earned only enough to pay a 6% dividend on preferred stock. Compute the total amount that will be paid to the holders of common stock?