FoodieGo, a catering company, is owned by foreign investors and local businessmen. Its earnings are equally divided among its members. It does not face the problem of double taxation as taxes are only levied on the personal income of the members. The owners of FoodieGo do not have personal liability for any debts incurred by the company. In the given scenario, FoodieGo is an example of a _____.
A. limited liability company
B. corporation
C. limited partnership
D. sole proprietorship
Answer: A
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Lands' End offers tailored clothing on its Web site, allowing one to choose a collar, sleeve style, pocket, etc. This is an example of:
A) mass customization. B) niche marketing. C) differential marketing. D) demographic marketing.
Which of the following is NOT one of the four primary scales of measurement?
A) nominal scales B) ordinal scales C) interval scales D) random scales E) C and D
The amortization of bond discount related to long-term debt should be presented in a statement of cash flows prepared using the indirect method as a(n)
a. addition to net income in the adjustments to reconcile net income to cash from operating activities. b. deduction from net income in the adjustments to reconcile net income to cash from operating activities. c. outflow of cash. d. inflow and outflow of cash.
Direct expenses are incurred for the joint benefit of more than one department; they cannot be readily traced to only one department.
Answer the following statement true (T) or false (F)