Which of the following is an advantage of a partnership?
A) No license, charter, or agreement legally required
B) Joint liability for company debts
C) Least regulated form of business
D) Ownership is easy to transfer
E) Can raise money using capital markets (debt and equity)
A
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The number of setups would be an example of an activity driver in activity-based costing
Indicate whether the statement is true or false
Financial information for Retro Designs includes the following selected data: Net income (in millions)$175 Preferred stock dividends (in millions)$25 Average common shares outstanding (in millions) 250 Stock price$10.00 What is the company's price-earnings ratio?
A. 5.7. B. 15.0. C. 14.3. D. 16.7.
Which of the following is true about the rights of shareholders?
A. Shareholders' rights are aimed at protecting only the interests of major shareholders. B. Shareholders have the rights to be informed about their investments. C. Shareholders do not have the rights to put ceilings on the salaries of top executives. D. Shareholders have the rights to make managerial decisions within the corporation.
The Income Summary account is credited in the entry that closes
a. expense accounts. b. revenue accounts. c. the Dividends account. d. net income.