Answer
Option B. Laura is personally liable as the bank, in good faith, thought she is a general partner
Explanation:
Limited Partnership (LP)
This is Business entity that exists in line with state statutes that gives limited liability to some of its members who called limited partners.
RULPA
This is simply called Revised Uniform Limited Partnership Act. It is the model for Limited Partnership legislation in most states.
Limited Partner
This is a part or member of a limited partnership.it is that individual who is not involved in controlling the business and whose liability is limited to amount invested in the business.
General Partner
It is simply a member in a limited (or general) partnership who controls the business and has unlimited personal liability.
In the above scenario, Laura will be taken as a general partner and will be held personally accountable or liable for the loan, and also along with the general partners of the limited partnership.The rule of RULPA gives the right for a limited partner to be involved in the management of the partnership’s affairs and not losing the limited liability if the limited partner has been formally employed by the partnership to be an executive of the partnership.
The plans that must be involved are the strategic planning, the mid level, the low level, the operational planning, the top level planning.
Explanation:
In the strategic planning the company's stakeholders will ask them were they want their company to be in five years
The middle level staff will decide to focus in recruiting the new clients and to increase the productivity and they will find the way to give back to the company
Being a low level employee it is necessary that one must interact with the customers and contribute to the company's performance
In the operational planning it will be difficult to manage the customers meet their day to day needs and satisfy them
A meeting will be held with the top level staff and hence they will be coming up with the new tools of the operational planning
Solution :
It is given that :
Amount of investment or the principle amount , P = $ 100
Time of investment , t = 6 years
Rate of interest compounded annually r = 6 %
Therefore the future amount of this investment in a 6 year time is given by,
Therefore, after 6 years the investment of $ 100 will give an amount of $ 141.
Answer:
The existing state of American economy must be declared earlier respondent the interrogation.
The U.S. financial position is vigorous in 2017.The value rate is in its perfect vary i.e., 2.4 (2-3%).Joblessness is at its ordinary proportion and there isn't an excessive amount of rise or decrease. Conversely, the value is predicted to descent to a pair of 2.1% in 2018 and 2.0 in 2019. Drop in value would cause decrease in GDP and growth in state.
To avoid this drop I will be able to inscribe to manager of Federal Reserve Bank to cut back the rate (expansionary financial policy).Federal reserve will try this by shopping for bonds. Once Federal Reserve purchases bonds the money offer increases and rate decreases. As rate decreases mixture demand and financial gain increases. With escalation in financial gain and mixture demand the value wouldn't decrease in 2018 and 2019.
I would not recommend an expansionary economic policy as a result of it increases the rate yet and thus results in situation out.
Answer:
Doubtful
Explanation:
The company will record the uncollectible $5,670 of its accounts receivable as a debit to uncollectible accounts expense and a credit to the DOUBTFUL account.
This is evident in the fact that the bad debt allowance method has three main principles which are:
1. Calculate uncollectible receivables
2. Debit bad debt expense and credit allowance for doubtful accounts in the journal entry
3. Debit allowance for doubtful accounts and credit the corresponding receivables account when it is time to write off the account.