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Question
The primary reason to choose the limited liability limited partnership instead of a limited partnership as a form of business is to:
A. create a tax shelter for the partners.
B. raise large amounts of capital.
C. limit the liability of all of its general partners.
D. relieve owners from managing the business.
Answer
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Related questions
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The term "Superfund" refers to:
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John owns a parcel of land on which he wants to build an apartment building. However, John's land is currently a swamp; he wants to drain it. John should apply for a permit to drain the swamp from:
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Which of the following can issue both National Pollution Discharge Elimination System (NPDES) permits and industrial discharge permits?
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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The _____, enacted in 1970, required that an environmental impact statement be prepared for every recommendation or report on legislation and for every major federal action significantly affecting the quality of the environment.
A. Comprehensive Environmental Response Compensation and Liability Act
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An individual can sue a former employer for OSHA violations that the individual witnessed.
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Soundco, Inc., a leading manufacturer of stereo equipment, sells equipment to both wholesalers and retailers. Soundco regularly charges wholesalers less than it charges retailers for the same equipment. Contending that this pricing practice violated the Robinson-Patman Act, various retailers have sued Soundco. What should Soundco argue in an effort to avoid liability?
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Which of the following are exempted from antitrust violations under the Clayton Act?
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For _____, cost justification is the primary statutory defense to liability under Section 2(a) of the Robinson-Patman Act.
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Which Section of The Clayton Act originally prohibited local and territorial price discrimination by sellers?
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B. Section 3
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Violators can only be subjected to civil penalties for failure to fulfill the hazardous waste regulations promulgated under RCRA.
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The Clean Water Act incorporates both civil and criminal sanctions.
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Every state or local municipality must file an environmental impact statement under NEPA.
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Bill didn't exactly fit in at the XYZ Corporation. First, Bill lost out on a promotion because a female co-employee was having sexual relations with their mutual boss and for that reason got the promotion instead. Later, Bill was denied a raise because he refused to have sex with his male supervisor. Still later, Bill was fired when he refused to have a sexual relationship with the firm's female CEO. Bill sues XYZ for sexual harassment, citing all three incidents. Across the 50 states, for which of the incidents is he most likely to recover? Why?
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Which of the following requires parties to the merger agreement for planned mergers involving dollar values of stock or assets exceeding certain amounts to provide advance notice to the FTC and the Justice Department?
A. Section 7 of the Clayton Act
B. The Robinson-Patman Act
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D. The Hart-Scott-Rodino Antitrust Improvement Act
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The Robinson-Patman Act prohibits sellers from making discriminatory payments to competing customers for such customer-performed services as advertising and promotional activities.
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There are three major defenses to price discrimination under the Robinson-Patman Act.
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The Securities and Exchange Commission (SEC) is an example of an independent agency.
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Individuals convicted of a RICO (Racketeer Influenced and Corrupt Organizations Act) violation may be:
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B. fined up to $150,000 and imprisoned up to 25 years.
C. fined up to $150,000 without an imprisonment.
D. fined up to $250,000 and imprisoned up to 20 years.
Q:
The maximum penalty for a criminal violation of the 1933 Act is a:
A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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C. Baker performed the audit in accordance with generally accepted auditing standards.
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Q:
In which of the following contexts is a professional most likely to experience a nonclient action?
A. An accountant who prepares and audits financial statements of companies.
B. A consultant who gives advice to companies for improving performance.
C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.