If there is an issue not covered by operating agreement or state statute, such as authority of individual members, courts often apply _____________ laws.

Charlene owns 40% of Liu's common stock. Liu pays $97,000 in total cash dividends to its shareholders. Charlene's entry to record this transaction should include a:

A) Debit to Dividends for $97,000. B) Credit to Dividend Revenue for $38,800. C) Debit to Long-Term Investments for $97,000. D) Credit to Long-Term Investments for $38,800. E) Debit to Cash for $97,000.

When determining a course of action, the decision maker is faced with __________ different courses of action

A) 7 B) 5 C) 3 D) 2