A major advantage of using joint ventures in the international arena is

A) achieving economies of scale.
B) gaining local know-how.
C) reducing risk.
D) reducing government interference.

B

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LLC can either be __________-managed or __________-managed.

Fill in the blank(s) with the appropriate word(s).

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A company purchased land for $210,000 cash. Real estate brokers' commission was $15,000 and $21,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at

A. $231,000 B. $210,000 C. $225,000 D. $246,000

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