Which one of the following best describes themajor benefit of being a limited partner rather than a general partner?


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. restricted life of the firmII. individual licapability for firm debtIV. lack of capability to transfer partnership interest
I. Officers of the corporation should evaluation and sign annual reports.III. Annual reports have to list deficiencies in interior controls.
*A. generally not the same since GAAP enables for revenue acknowledgment separate from the receipt of cash flows.
Which of the complying with service owners are a lot of at risk for losing their personal assets because of organization debts?
Tim has been promoted and is currently in charge of all addressed asset purchases. In various other words, Tim is in charge of:
Lester"s BBQ has actually $121,000 in current assets and $109,000 in existing liabilities. These worths as described as the firm"s:
3. Margie opened a used book store and is both the 100 percent owner and also the store"s manager. Which kind of business entity does Margie own if she is personally liable for all the store"s debts?
Todd and also Cathy produced a firm that is a separate legal entity and also will share ownership of that firm on a 50/50 basis. Which kind of entity did they develop if they have no personal liability for the firm"s debts?
5. The federal government has actually a taxation insurance claim on the cash flows of The Window Store. This insurance claim is characterized as a claim by among the firm"s:
11. Which among the following is many apt to align management"s priorities with shareholders" interests?
B. Compensating managers with shares of stock that must be hosted for 3 years prior to the shares deserve to be sold
13. Ted presently owns 100 shares of a publicly traded stock which he would choose to market. Which one of the adhering to gives the the majority of effective suggests for Ted to market his shares?
17. The audit statement which measures the revenues, costs, and net income of a firm over a duration of time is referred to as the:
18. The financial statement that summarizes a firm"s accountancy value as of a specific day is dubbed the:
C. Mitchell"s Grocer boosted its sales by $52,000 last year and also had to pay a secondary $16,000 in taxes.
30. Which among the following will certainly increase the cash flow from assets for a tax-paying firm, all else constant?
31. Tressler Industries opted to repurchase 5,000 shares of stock last year in lieu of paying a dividfinish. The cash circulation statement for last year should have which among the following assuming that no brand-new shares were issued?
32. Which among the following will certainly rise cash flow from assets but not influence the operating cash flow?


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33. Which among the adhering to suggests that a firm has actually generated adequate internal cash flow to finance its whole operations for the period?