The person who assumes full co-ownership of a partnership, including unlimited liability, is a
A. sole proprietor.
B. stockholder.
C. shareholder.
D. limited partner.
E. general partner.
Answer: E
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_____ arise from relatively infrequent transactions, and there can be no assurance that they will recur in any future period
a. Gains/Losses b. Revenues c. Expenses d. Assets e. Liabilities
A chronological history of the chain of title and encumbrances affecting a parcel of real property
is known as: A) An abstract of title. B) A certificate of title. C) A Torrens certificate. D) Title insurance.
Find the probability that none of the 3 products is successful
A company markets educational software products, and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of "success" is 80%. Assume that the probability of success is independent for each product.
The accounting principle that requires accounting information to be based on actual cost and requires assets and services to be recorded initially at the cash or cash-equivalent amount given in exchange, is the:
A. Going-concern assumption. B. Business entity assumption. C. Accounting equation. D. Realization principle. E. Measurement (Cost) principle.