Identify a true statement about a limited liability company (LLC).
A. A limited liability company (LLC) has a maximum of 100 stockholders (owners).
B. A limited liability company (LLC) offers the limited personal liability associated with a corporation.
C. A limited liability company (LLC) has only one type of stock (membership interest).
D. A limited liability company (LLC) is taxed as a partnership, which means the stockholders are subject to double taxation.
E. A limited liability company (LLC) is liable for the negligence, irresponsibility, or similar acts committed by any partner.
Answer: B
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If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance, repair, operating) supplies and needs, Ampex Support Systems is considered as providing ________ for the manufacturer
A) guided selling B) purchasing support C) turnkey logistics D) decision support E) systems contracting
Which of the following is an example of a deferral?
a. Debit Interest Expense, credit Interest Payable b. Debit Accounts Receivable, credit Legal Fees Earned c. Debit Property Taxes Expense, credit Property Taxes Payable d. Debit Depreciation Expense–Truck, credit Accumulated Depreciation–Truck
Which of the following would not be included in overhead?
A) marketing costs B) property taxes on the factory C) factory utility costs D) deprecation on factory machinery
____ has the possibility of raising the NO_DATA_FOUND or TOO_MANY_ROWS exception.
A. DECLARE B. SELECT C. CASE D. LOOP