Most states apply to a limited liability company (LLC) formed in another state the law of the state where the LLC was formed
Indicate whether the statement is true or false
T
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Jennifer Cakes places a coupon in each box of its product. Customers may send in five coupons and $3, and the company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of 400,000 boxes of product were sold in 2016. It was estimated that 6% of the coupons would be redeemed. During 2016, 8,000 coupons were redeemed. Which entry should be made at December
31, 2016? A) ?Premium Expense 6,400Estimated Premium Claims Outstanding 6,400? B) ?Premium Expense 16,000Estimated Premium Claims Outstanding 16,000? C) ?Premium Expense 6,400Inventory of Premiums 6,400? D) ?Premium Expense 9,600Estimated Premium Claims Outstanding 9,600
According to the textbook, the key to being an ethical person or organization is to ______.
A. make sure that your network does not have any convicts or ex-convicts B. make sure that no one catches you doing something wrong C. consistently choose to do the right thing D. make sure that your actions parallel what the organizational culture accepts
The Statute of Frauds:
a. requires that all contracts be in writing. b. limits the types of evidence that can be used to prove the terms of the contract. c. provides a remedy for fraudulent acts. d. requires that certain types of contracts be evidenced by a writing. e. requires that written contracts be notarized.
It is not important to consistently enforce standards and impose penalties or punishment on those who violate codes of conduct.
Answer the following statement true (T) or false (F)