When a limited liability company is formed, a. the partnership activities are limited O b. all partners have limited liability O C. some of the partners have limited liability O d. none of the partners has limited liability

When a limited liability company is formed, a. the partnership activities are limited O b. all partners have limited liability O C. some of the partners have limited liability O d. none of the partners has limited liability

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

When a limited liability company is formed,
a. the partnership activities are limited
9 b. all partners have limited liability
C. some of the partners have limited liability
O d. none of the partners has limited liability

A reduction of par or stated value of stock results from a
a. preferred dividend
O b. liquidating dividend
O c. stock split
O d. stock option

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