An LLC that was organized in Alabama and is operating in Texas with no operations outside the United States is considered a ________ in Texas.
A. foreign limited liability company
B. limited liability partnership
C. domestic limited liability company
D. general partnership
Answer: A
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Many companies use MACRS (Modified Accelerated Cost Recovery System) depreciation for
a. financial reporting purposes and a different method for tax purposes. b. financial reporting purposes because depreciation is not allowed for tax purposes. c. tax purposes because it results in a larger net income in the early years of a plant asset's life d. tax purposes because of a desire to report higher expenses in early years in order to pay lower taxes.
When we refer to "democratizing" of innovation, we mean that:
A) the new product development teams should report directly to the top management. B) the new product development teams should be treated like startup companies. C) customers can be treated as the best source of new-product ideas. D) the product development cycle should be minimized.
The primary objective in setting transfer prices is to ________.
A) establish a system that determines the best transfer prices for the company as a whole B) evaluate the managers of the responsibility centers involved C) achieve goal congruence by selecting a price that will maximize overall company profits D) make it easy for managers to select prices that maximize division profits
Accrued liabilities often arise as a result of the passage of time
Indicate whether the statement is true or false