A partner may not receive a distribution from a limited partnership unless the partnership's assets after the distribution would be sufficient to pay all of the partnership's liabilities, including those to other partners on account of their partnership interests
a. True
b. False
Indicate whether the statement is true or false
False
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Indicate whether the statement is true or false.
The effect of substituting a non-standard mix of materials during the production process is referred to as a material yield variance
Indicate whether the statement is true or false
Ben, an accountant, certifies several audit reports on Corporate Business, Inc. (CBI), Ben's client, knowing that CBI intends to use the reports to borrow money from Delta Credit Company. Ben believes that the reports are true and does not intend to deceive Delta, but does not check the reports before certifying them. Can Ben be held liable to Delta?
What will be an ideal response?
Watson's Automotive has a $400,000 bond issue outstanding that is selling at 102 percent of face value. Watson's also has 4,500 shares of preferred stock and 21,000 shares of common stock outstanding
The preferred stock has a market price of $44 a share compared to a price of $21 a share for the common stock. What is the weight of the debt as it relates to the firm's weighted average cost of capital? Round answer to nearest percent. A) 38 percent B) 39 percent C) 40 percent D) 41 percent E) 42 percent