Limited partners have limited liability for partnership obligations

Jordan Jewelry is a U.S. firm that designs, manufactures, and sells inexpensive jewelry and accessories. Executives at the firm believe that Jordan Jewelry could significantly increase its profitability by exporting products to foreign markets

Before engaging in international trade, Jordan executives need to develop an export plan. Which of the following questions is LEAST relevant to this activity? A) Would Jordan's resources be better utilized developing business in the United States? B) How much will it cost to get Jordan's products to the targeted markets? C) What marketing campaign would be best for Jordan's foreign markets? D) Is exporting consistent with Jordan's long-term goals?

Revenue Procedures deal with:

a. specific taxpayer requests for the IRS's position on a tax issue b. applying the Code and Regulations to a specific factual situation c. the internal practice and procedures of the IRS in the administration of the tax laws d. all of these are correct