Which of the following is true of the dissolution of a limited liability company (LLC)?
A. The remaining members cannot avoid liquidation even by unanimously agreeing to continue the business operations.
B. Dissolution can only be caused by bankruptcy.
C. The act of dissolution terminates an LLC's business.
D. An LLC must be set up so that it can be easily dissolved.
Answer: D
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A company is typically considered as a(n) ________ when it uses a supplier's component in its own finished product
A) broker B) distributor C) original equipment manufacturer D) value-added seller
One form of a power move is ________ tactics, which force the other party to realize that the status quo is unacceptable and make the costs of not negotiating very explicit.
Fill in the blank(s) with the appropriate word(s).
Companies are price-takers when ________.
A) their products are unique B) there is very little competition C) pricing approach emphasizes cost-plus pricing D) they have little or no control over the prices of their products or services
All of the following are disadvantages of fair value use except:
A) fair values may not be readily obtainable. B) fair values may cause more fluctuations as change occurs from period to period. C) comparability between companies may be impacted by different fair value measurement. D) fair values can only be used on balance sheet accounts.