Identify which of the following statements is true.
A. When a partnership is divided into two or more new partnerships, all of the resulting partnerships must be considered new partnerships.
B. A limited liability company is a form of business entity that combines the legal benefits of the corporate form with the tax benefits of the partnership form.
C. A partnership is "publicly traded" only if its interests are traded on an established securities exchange.
D. All of the above are false.
Answer: B
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Which of the following refers to the communication transactions between individuals and/or groups at various levels and in different areas of specialization that are intended to design and redesign organizations, to implement designs, and to coordinate day-to- day activities?
A. upward communication B. internal communication C. external communication D. downward communication
One phase of the project risk analysis and management program is concerned more with the project than the management of risk. The latter is facilitated by successful completion of this step, but not the focal point
This phase in the project risk analysis and management program is: A) Estimate. B) Define. C) Focus. D) Manage.
Which of the following statements is incorrect?
A. Financial statements can be prepared directly from information in the adjusted trial balance. B. Each trial balance amount is used in preparing the financial statements. C. Financial statements should be prepared directly from information in the unadjusted trial balance. D. An adjusted trial balance is a list of accounts and balances prepared after adjusting entries have been recorded and posted to the ledger. E. An unadjusted trial balance is a list of accounts and balances prepared before adjustments are recorded.
Moving &Storage Company holds goods for National Distribution Corporation, which contracts to sell them to Omni Stores, Inc The goods are to be delivered without being moved and are represented by a negotiable bill of lading. The risk of loss passes to Omni Stores
a. if Moving & Storage refuses to honor the bill of lading. b. if National Distribution gives the bill of lading to Moving & Storage. c. if the goods are lost due to an "act of God.". d. when Omni Stores receives the bill of lading.