When they want to protect their personal property, they may want to try out a limited liability company. By making it a limited liability company, they may choose to become limited partners and not have their personal property at risk. However, they have to find other partners who are willing to participate in the business as general partners. It is only the general partners who will have their property at risk when the company closes down so they have to make sure to get general partners.
Answer: a practice in which executives get out of their offices and learn from others in the organization through casual face-to-face dialogue.
Explanation: Management by walking around (MBWA) refers to a practice in which executives get out of their offices and learn from others in the organization through casual face-to-face dialogue.
In this management style, executives pay casual, unplanned visits to staff in their work areas to understand their work environment, experience first hand their status reports instead of waiting for them to be delivered to their office. Management by walking around fosters a better work environment through better communication, a hands-on experience of the conditions of the workplace by managers as well as quick and effective problem solving.
Personally, I would choose to save that money. The reason why is you never know - maybe something bad is going to happen and you will need that extra cash. So instead of splurging it on material things, it's better to save it for a rainy day, in my opinion. Investing is not safe, given that you may lose a lot more than you invest.
Answer:
Momentous Occasions
a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue. This means that the recognition occurred on a separate date from when the cash was received.
b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received. This means that the recognition occurred on a separate date from when the cash was received.
Explanation:
Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.
