How LLCs usually obtains capital, if needed?
What will be an ideal response?
Answer: Capital contributions from members; bank loans backed by members' personal assets (if LLC has insufficient credit history)
You might also like to view...
Which of the following is not a factor that relates to opportunities to commit fraudulent financial reporting?
A) lack of controls related to the calculation and approval of accounting estimates B) ineffective oversight of financial reporting by the board of directors C) management's set of ethical values D) high turnover of accounting, internal audit, and information technology staff
An important statistic to consider when using a statistical sampling audit plan is the population variability. The population variability is measured by the
A) sample mean. B) standard deviation. C) standard error of the sample mean. D) estimated population total minus the actual population.