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.
Answer:
True
Explanation:
Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000
Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.
Answer:
consumption, investment, government purchases, and net exports.
Explanation:
The Gross Domestic Products (GDP) is the measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country. The Gross Domestic Products (GDP) of a country's economy gives an insight to it's social well-being.
Basically, the four major expenditure categories of GDP are consumption, investment, government purchases, and net exports.
Answer:
a) If bribes cost $1,000 each, how much will a housing inspector make each year in bribes?
So, if the corrupt inspector approves two newly built structures each week, ti means that he is bribed twice per week. There are 52 weeks in a year, so he gets a total of 104 bribes (52 x 2). If each bribe costs $1,000, then he makes a total of: $1,000 x 104 = $104,000 in bribes per year.
c) Corrupt officials may have an incentive to reduce the provision of government services to help line their own pockets.
This statement is true. Corrupt officials will want to have private companies they can obtain bribes from provide government services. It increases the probability of them making money from bribes.
d) What if reducing the number of inspectors from 20 to 10 only increased the equilibrium bribe from $1,000 to $1,500?
Reducing the number of inspectors in hafl means that each inspector now gets twice the bribes. Because the equilibrium price did not double as did the quantity of bribes, each inspector will make less money than expected, but they will still the incentive to collect all the four bribes per week.
Answer:
16.54%
Explanation:
We have to applied the rate formula that is shown in the attachment.
The NPER shows the time period.
Given that,
Present value = $2,500
Future value or Face value = $5,375
PMT = $0
NPER = 6 years - 1 years = 5 years
The formula is shown below:
= Rate(NPER,PMT,-PV,FV,type)
The present value come in negative
So, after solving this, the annual rate of return is implied is 16.54%
