Homework Answers
Answer:-
21) owner of the corporation are called Share holders.
Owners of a limited liability company are called Members.
22) Strict liability and product liability
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Question 21 1 pts Owners of a corporation are called Owners of a limited liability company...
please asap Question 7 3 pts Limited partners have liability: for the full amount of partnership...
please asap
Question 7 3 pts Limited partners have liability: for the full amount of partnership debts if their name is in the partnership name. for the negligent acts of the general partner. only for the amount of their contributions, for their contributions and any distributions made to them. Question 8 3 pts The corporate veil can be pierced under the alter ego theory when: personal and corporate assets or debts are mixed. there were insufficient assets put into the...
Question 5 1 pts Under corporate law, dividends must be paid to owners of stock of...
Question 5 1 pts Under corporate law, dividends must be paid to owners of stock of a corporation on an annual basis. True O False Question 6 1 pts A general partnership may be created for a term or at will. True False
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
1-7 Question 1 1.25 pts Which of the following is not a characteristic of a corporation?...
1-7
Question 1 1.25 pts Which of the following is not a characteristic of a corporation? Limited liability Access to limited amounts of capital Owners are considered stockholders Double taxation Question 2 1.25 pts If 50,000 shares are authorized, 37,000 shares are issued, and 2,000 shares are reacquired, the number of outstanding shares is 37,000. True False Question 3 1.25 pts One of the conditions for paying a cash dividend is formal action by the board of directors. True False...
Question 2 1 pts Which of the following descriptions concerning shareholders and stakeholders is INCORRECT? A...
Question 2 1 pts Which of the following descriptions concerning shareholders and stakeholders is INCORRECT? A shareholder can be an individual, company, or institution that owns at least one share of a company and therefore has a financial interest in its profitability. Stakeholders can be owners and shareholders, employees of the company, bondholders who own company issued debt customers who may rely on the company to provide a particular good or service, suppliers and vendors who may rely on the...
is Question: 3 pts 2 of 15 (1 complete) TTs Tebt. 21 Question Hep A corporation...
is Question: 3 pts 2 of 15 (1 complete) TTs Tebt. 21 Question Hep A corporation must appoint a president, chief executive officer (CEO), chief operating officer (COO), and chief financial officer (CFO) It must als0 appoint a planning commitee with three dillerent members There are 17 qualifed candidates, and officers can also serve on the commitee Complete parts (a) through (c) below a. How many diflerent ways can the officers be appointed? There are diferent ways to appoint the...
Question 1 2 pts Questio Questio Questio Time Running: Attempt due: Sep 20 1 Hour, 21...
Question 1 2 pts Questio Questio Questio Time Running: Attempt due: Sep 20 1 Hour, 21 Minu Debbie Debtor owed three debts to Carl Creditor, totaling $15.000. The first debt was $3,000, the second debt was $5,000, and the third debt was $7.000. Debbie needed to obtain additional gadgets from Carl and paid him $3,000 for them. Debbie also paid Carl an additional $6,000 by check, specifying that it should be applied towards the third debt. Carl accepted the check...
1. In what ways can operator liability attach to a parent corporation? How did the Sixth...
1. In what ways can operator liability attach to a parent corporation? How did the Sixth Circuit Court disagree with the district court’s analysis? 2. Is direct liability for a parent company’s operation of the facility distinct from derivative liability for the subsidiary’s operation of the facility? Should the focus be on parent and subsidiary or on parent and facility? 3. What norms of corporate behavior does the court look to in determining whether an officer or a director is...
QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship,...
QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship, for more than seven years. Among the services she offers is tax return filing and personal investment advising. Which of the following is true of Manuela’s business? A. Manuela has little control over the management and operations of her business. B. Manuela has unlimited liability. C. Outside funding for the business has been easy for Manuela to obtain. D. Manuela had varied and complicated...
QI:1-3 (book/static) Question Help Congressman Patrick indicates that he is opposed to tax proposals that call...
QI:1-3 (book/static) Question Help Congressman Patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. Discuss the position of the congressman, giving consideration to tax rate structures (e.g. progressive, proportional, and regressive) and the concept of equity tax structure, the same tax rate applies Under a tax rate structure, the tax rate increases as the taxpayer's income increases....
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Question 7 3 pts Limited partners have liability: for the full amount of partnership debts if their name is in the partnership name. for the negligent acts of the general partner. only for the amount of their contributions, for their contributions and any distributions made to them. Question 8 3 pts The corporate veil can be pierced under the alter ego theory when: personal and corporate assets or debts are mixed. there were insufficient assets put into the...
Question 5 1 pts Under corporate law, dividends must be paid to owners of stock of a corporation on an annual basis. True O False Question 6 1 pts A general partnership may be created for a term or at will. True False
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
1-7
Question 1 1.25 pts Which of the following is not a characteristic of a corporation? Limited liability Access to limited amounts of capital Owners are considered stockholders Double taxation Question 2 1.25 pts If 50,000 shares are authorized, 37,000 shares are issued, and 2,000 shares are reacquired, the number of outstanding shares is 37,000. True False Question 3 1.25 pts One of the conditions for paying a cash dividend is formal action by the board of directors. True False...
Question 2 1 pts Which of the following descriptions concerning shareholders and stakeholders is INCORRECT? A shareholder can be an individual, company, or institution that owns at least one share of a company and therefore has a financial interest in its profitability. Stakeholders can be owners and shareholders, employees of the company, bondholders who own company issued debt customers who may rely on the company to provide a particular good or service, suppliers and vendors who may rely on the...
is Question: 3 pts 2 of 15 (1 complete) TTs Tebt. 21 Question Hep A corporation must appoint a president, chief executive officer (CEO), chief operating officer (COO), and chief financial officer (CFO) It must als0 appoint a planning commitee with three dillerent members There are 17 qualifed candidates, and officers can also serve on the commitee Complete parts (a) through (c) below a. How many diflerent ways can the officers be appointed? There are diferent ways to appoint the...
Question 1 2 pts Questio Questio Questio Time Running: Attempt due: Sep 20 1 Hour, 21 Minu Debbie Debtor owed three debts to Carl Creditor, totaling $15.000. The first debt was $3,000, the second debt was $5,000, and the third debt was $7.000. Debbie needed to obtain additional gadgets from Carl and paid him $3,000 for them. Debbie also paid Carl an additional $6,000 by check, specifying that it should be applied towards the third debt. Carl accepted the check...
QI:1-3 (book/static) Question Help Congressman Patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. Discuss the position of the congressman, giving consideration to tax rate structures (e.g. progressive, proportional, and regressive) and the concept of equity tax structure, the same tax rate applies Under a tax rate structure, the tax rate increases as the taxpayer's income increases....
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